Morgan Stanley Forecasts Strong Price Appreciation for Match Group (NASDAQ:MTCH) Stock

Match Group (NASDAQ:MTCH) had its price objective upped by analysts at Morgan Stanley from $32.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential downside of 3.17% from the company’s previous close.

A number of other research analysts have also commented on the company. Wells Fargo & Company lowered their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Loop Capital lowered their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group restated a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Fourteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.72.

Match Group Trading Up 1.5 %

MTCH stock traded up $0.50 during mid-day trading on Thursday, hitting $34.08. The stock had a trading volume of 444,541 shares, compared to its average volume of 4,120,377. Match Group has a 1-year low of $27.66 and a 1-year high of $38.84. The company has a fifty day moving average of $32.95 and a 200 day moving average of $34.66. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.10 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. As a group, sell-side analysts expect that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group announced that its board has authorized a share buyback plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Match Group

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

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Match Group in the 4th quarter worth $116,000. Factorial Partners LLC boosted its position in shares of Match Group by 11.1% in the 4th quarter. Factorial Partners LLC now owns 155,000 shares of the technology company’s stock worth $5,070,000 after purchasing an additional 15,500 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Match Group by 3.0% in the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after purchasing an additional 318 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its position in shares of Match Group by 187.5% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 5,750 shares of the technology company’s stock worth $188,000 after purchasing an additional 3,750 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in shares of Match Group in the 4th quarter worth $388,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.