Match Group (NASDAQ:MTCH) Given New $30.00 Price Target at Loop Capital

Match Group (NASDAQ:MTCH) had its price objective trimmed by Loop Capital from $35.00 to $30.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday. KeyCorp reduced their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Match Group in a report on Monday. Morgan Stanley reduced their price objective on Match Group from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Susquehanna decreased their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Match Group presently has an average rating of “Moderate Buy” and a consensus target price of $39.27.

Match Group Price Performance

Shares of MTCH stock 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 fifty day moving average price of $34.47 and a 200-day moving average price of $34.11. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.18 and a beta of 1.47.

Match Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.49%.

Insider Buying and Selling at Match Group

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 large investors have recently modified their holdings of the business. Sumitomo Life Insurance Co. boosted its stake in Match Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after purchasing an additional 297 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after buying an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after buying an additional 357 shares during the period. Empirical Finance LLC increased its position in shares of Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after acquiring an additional 384 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Match Group by 1.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 455 shares during the last quarter. 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.