Match Group, Inc. (NASDAQ:MTCH) Receives $40.73 Average PT from Brokerages

Match Group, Inc. (NASDAQ:MTCH) has earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $40.73.

Several research firms have recently issued reports on MTCH. Morgan Stanley decreased their target price on Match Group from $36.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 12th. Royal Bank of Canada lowered their target price on shares of Match Group from $47.00 to $35.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Truist Financial reduced their price target on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Finally, StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 12,398 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTCH. Sumitomo Life Insurance Co. increased its holdings in shares of Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after acquiring an additional 297 shares during the last quarter. Fulton Bank N.A. raised its holdings in Match Group by 3.1% in the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after acquiring an additional 299 shares during the period. Prestige Wealth Management Group LLC lifted its position in 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 acquiring an additional 357 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Match Group by 1.5% during the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after acquiring an additional 384 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 1.0 %

Shares of Match Group stock opened at $32.93 on Wednesday. The business has a fifty day simple moving average of $35.00 and a 200 day simple moving average of $34.02. The stock has a market cap of $8.27 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.91 and a beta of 1.47. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42.

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.