Wells Fargo & Company Lowers Match Group (NASDAQ:MTCH) Price Target to $32.00

Match Group (NASDAQ:MTCH) had its price target trimmed by Wells Fargo & Company from $33.00 to $32.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

MTCH has been the subject of a number of other research reports. UBS Group dropped their target price on Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, November 8th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays decreased their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Susquehanna dropped their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial cut their price target on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.06.

Match Group Trading Up 2.8 %

NASDAQ:MTCH opened at $31.45 on Thursday. The stock has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $34.16. The stock has a market cap of $7.90 billion, a P/E ratio of 14.04, a PEG ratio of 1.18 and a beta of 1.47. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

Match Group Dividend Announcement

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 given a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.42%.

Match Group declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Match Group

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

Institutional Investors Weigh In On Match Group

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after acquiring an additional 391,977 shares in the last quarter. Starboard Value LP purchased a new stake in Match Group during the 3rd quarter worth about $361,605,000. Pacer Advisors Inc. lifted its stake in Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after purchasing an additional 2,940,667 shares in the last quarter. FMR LLC increased its stake in Match Group by 10.4% in the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after acquiring an additional 524,144 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Match Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after buying an additional 12,379 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Company Profile

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.