Match Group (NASDAQ:MTCH) Price Target Raised to $33.00 at Morgan Stanley

Match Group (NASDAQ:MTCH) had its price target lifted by Morgan Stanley from $32.00 to $33.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Loop Capital cut their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $33.00 price objective (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. KeyCorp lowered their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Barclays reduced their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Match Group presently has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Stock Performance

Shares of MTCH stock opened at $34.59 on Thursday. The company has a market cap of $8.69 billion, a P/E ratio of 15.44, a PEG ratio of 1.10 and a beta of 1.45. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The stock has a 50 day simple moving average of $32.95 and a two-hundred day simple moving average of $34.66.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. On average, research analysts predict that Match Group will post 2.37 earnings per share for the current year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is presently 33.93%.

Match Group declared that its Board of Directors has authorized a share 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 purchase up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group 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 sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Match Group

Several large investors have recently modified their holdings of MTCH. Venturi Wealth Management LLC lifted its stake in 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. bought a new stake in shares of Match Group in the third quarter valued at $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group in the third quarter valued at $57,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position 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 valued at $70,000 after buying an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC bought a new position in shares of Match Group during the 3rd quarter worth $87,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.