Match Group (NASDAQ:MTCH) Price Target Lowered to $34.00 at UBS Group

Match Group (NASDAQ:MTCH) had its target price cut by UBS Group from $38.00 to $34.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Wells Fargo & Company dropped their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Match Group in a research note on Monday. Bank of America increased their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Susquehanna lowered their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.27.

Match Group Stock Performance

NASDAQ MTCH opened at $30.58 on Thursday. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The stock has a market cap of $7.68 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The stock has a 50 day simple moving average of $34.47 and a two-hundred day simple moving average of $34.11.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a $0.19 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.49%.

Match Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its holdings in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter valued at $31,000. Quarry LP grew its holdings in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the third quarter valued at approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.