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

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

A number of other research analysts have also issued reports on the stock. Susquehanna decreased their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. UBS Group lowered their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus decreased their price target on shares of Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price target on shares of Match Group in a report on Monday, December 9th. Ten analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.06.

Match Group Stock Performance

NASDAQ MTCH opened at $31.45 on Thursday. Match Group has a 52-week low of $27.66 and a 52-week high of $42.42. The firm has a 50-day moving average of $34.35 and a 200-day moving average of $34.16. The stock has a market cap of $7.90 billion, a PE ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47.

Match Group declared that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, January 6th.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MTCH. Retirement Systems of Alabama lifted its stake in Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after purchasing an additional 1,601,115 shares in the last quarter. Franklin Resources Inc. grew its holdings in Match Group by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock worth $10,459,000 after acquiring an additional 22,887 shares during the last quarter. Boyar Asset Management Inc. bought a new position in Match Group during the 3rd quarter valued at approximately $1,376,000. TD Private Client Wealth LLC boosted its holdings in Match Group by 131.9% in the third quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company’s stock valued at $247,000 after acquiring an additional 3,705 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in Match Group in the third quarter worth about $249,000. 94.05% of the stock is owned by institutional investors.

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.