Match Group (NASDAQ:MTCH) Receives Hold Rating from Jefferies Financial Group

Match Group (NASDAQ:MTCH)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Financial Group in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $32.00 target price on the technology company’s stock, down from their previous target price of $40.00. Jefferies Financial Group’s target price suggests a potential upside of 2.96% from the company’s previous close.

Several other analysts have also commented on the company. Barclays dropped their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Stifel Nicolaus dropped their price objective 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, December 12th. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Monday. Truist Financial lowered their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.68.

Match Group Stock Performance

Shares of MTCH opened at $31.08 on Tuesday. The business’s 50-day moving average is $34.01 and its two-hundred day moving average is $34.19. The company has a market capitalization of $7.80 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.18 and a beta of 1.47. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $42.42.

Match Group announced that its Board of Directors has approved a share 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 repurchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The shares were 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 owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its holdings in shares of Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth $31,000. Quarry LP grew its holdings in Match Group by 54.5% in the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group in the 3rd quarter worth $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Match Group by 433.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,500 shares during the period. 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.