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

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

A number of other analysts also recently weighed in on MTCH. Stifel Nicolaus decreased their price target on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Barclays decreased 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 note on Thursday. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. UBS Group lowered their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Fourteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Match Group presently has an average rating of “Hold” and an average target price of $37.72.

Match Group Stock Up 1.5 %

Shares of Match Group stock traded up $0.50 on Thursday, hitting $34.08. The stock had a trading volume of 444,541 shares, compared to its average volume of 4,120,377. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The business’s 50 day moving average is $32.95 and its two-hundred day moving average is $34.66. Match Group has a twelve month low of $27.66 and a twelve month high of $38.84.

Match Group (NASDAQ:MTCH) last released its earnings results 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 negative return on equity of 721.15% and a net margin of 17.86%. As a group, equities analysts predict that Match Group will post 2.37 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Match Group

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