Match Group (NASDAQ:MTCH) Given New $36.00 Price Target at Bank of America

Match Group (NASDAQ:MTCH) had its price objective hoisted by Bank of America from $35.00 to $36.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Truist Financial decreased their target price on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Morgan Stanley decreased their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Match Group in a research note on Monday. UBS Group cut their target price on Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Barclays reduced their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.27.

Match Group Trading Down 2.9 %

Shares of MTCH opened at $30.58 on Thursday. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.18 and a beta of 1.47. The firm’s 50-day moving average price is $34.47 and its 200-day moving average price is $34.11.

Match Group declared that its board has initiated a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, January 6th.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 801 shares of the firm’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 owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Match Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama increased its holdings in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after acquiring an additional 1,601,115 shares in the last quarter. Franklin Resources Inc. grew its position in Match Group by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock worth $10,459,000 after purchasing an additional 22,887 shares during the last quarter. Boyar Asset Management Inc. purchased a new stake in Match Group during the 3rd quarter worth approximately $1,376,000. TD Private Client Wealth LLC increased its stake in Match Group by 131.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company’s stock valued at $247,000 after purchasing an additional 3,705 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Match Group in the third quarter worth $249,000. 94.05% of the stock is currently owned by hedge funds and other 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.