Loop Capital Cuts Match Group (NASDAQ:MTCH) Price Target to $30.00

Match Group (NASDAQ:MTCH) had its price target lowered by equities research analysts at Loop Capital from $35.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Loop Capital’s target price suggests a potential downside of 4.61% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reduced their price objective on shares of Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday. Bank of America boosted their price target on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research report on Thursday. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company lowered their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.06.

Match Group Stock Up 2.8 %

Shares of NASDAQ MTCH opened at $31.45 on Thursday. The business has a 50-day simple moving average of $34.35 and a two-hundred day simple moving average of $34.12. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The company has a market cap of $7.90 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47.

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

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Match Group

A number of institutional investors have recently made changes to their positions in the stock. Starboard Value LP purchased a new position in shares of Match Group in the third quarter worth $361,605,000. Versor Investments LP grew its holdings in Match Group by 301.7% in the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after acquiring an additional 36,200 shares during the last quarter. Paloma Partners Management Co increased its position in shares of Match Group by 510.3% in the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after acquiring an additional 54,422 shares during the period. Aviance Capital Partners LLC bought a new position in shares of Match Group during the third quarter valued at about $2,170,000. Finally, Mawer Investment Management Ltd. boosted its holdings in shares of Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after purchasing an additional 267,890 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.