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

Match Group (NASDAQ:MTCH) had its target price lowered by research analysts at UBS Group from $38.00 to $34.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price points to a potential upside of 12.32% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Barclays decreased their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus decreased their price target on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday. Truist Financial cut their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, November 8th. Finally, StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.12.

Match Group Stock Performance

Shares of MTCH traded down $1.21 during mid-day trading on Thursday, hitting $30.27. 2,474,209 shares of the company were exchanged, compared to its average volume of 5,174,898. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.91 and a beta of 1.47. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42. The company has a 50 day moving average of $34.60 and a 200-day moving average of $34.13.

Match Group declared that its board has approved 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 buy up to 19% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents 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 available through this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Starboard Value LP acquired a new position in Match Group in the third quarter valued at approximately $361,605,000. Versor Investments LP boosted its holdings in shares of Match Group by 301.7% in the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock valued at $1,824,000 after buying an additional 36,200 shares in the last quarter. Paloma Partners Management Co grew its position in shares of Match Group by 510.3% in the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after buying an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC acquired a new stake in Match Group during the 3rd quarter worth $2,170,000. Finally, Mawer Investment Management Ltd. lifted its position in Match Group by 71.4% in the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock valued at $24,344,000 after acquiring an additional 267,890 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.