Match Group (NASDAQ:MTCH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Match Group (NASDAQ:MTCH) had its target price hoisted by investment analysts at Morgan Stanley from $31.00 to $32.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 0.98% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Evercore ISI dropped their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Truist Financial decreased their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. UBS Group reduced their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Bank of America increased their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Match Group Trading Up 1.7 %

Shares of MTCH opened at $31.69 on Monday. The firm’s fifty day simple moving average is $32.19 and its two-hundred day simple moving average is $34.41. Match Group has a 12 month low of $27.66 and a 12 month high of $39.91. The stock has a market capitalization of $7.96 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45.

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

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTCH. Commonwealth Equity Services LLC increased its holdings in Match Group by 11.7% in the second quarter. Commonwealth Equity Services LLC now owns 9,993 shares of the technology company’s stock valued at $304,000 after buying an additional 1,046 shares during the last quarter. Black Creek Investment Management Inc. lifted its stake in shares of Match Group by 164.7% in the 2nd quarter. Black Creek Investment Management Inc. now owns 225,000 shares of the technology company’s stock worth $6,836,000 after acquiring an additional 140,000 shares during the period. Dimensional Fund Advisors LP increased its position in Match Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after purchasing an additional 977,090 shares during the period. Renaissance Technologies LLC grew its holdings in Match Group by 13.3% during the second quarter. Renaissance Technologies LLC now owns 1,150,964 shares of the technology company’s stock worth $34,966,000 after acquiring an additional 135,100 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in shares of Match Group in the 2nd quarter valued at about $264,000. Institutional investors and hedge funds 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.