Morgan Stanley Issues Positive Forecast for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price objective upped by Morgan Stanley from $31.00 to $32.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other equities research analysts have also commented on the company. Susquehanna decreased their price target on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. KeyCorp dropped their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Finally, StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.72.

Match Group Trading Up 1.2 %

MTCH stock opened at $32.07 on Monday. The company’s 50-day moving average price is $32.19 and its 200 day moving average price is $34.41. Match Group has a 52 week low of $27.66 and a 52 week high of $39.91. The company has a market cap of $8.05 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.18 and a beta of 1.45.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a $0.19 dividend. The ex-dividend date is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.37%. Match Group’s payout ratio is 33.93%.

Match Group declared that its board has authorized a share buyback program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other 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 transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Match Group

A number of institutional investors have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Match Group during the 3rd quarter worth approximately $31,000. Quarry LP raised its holdings in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter valued at approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after buying 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.