UBS Group Issues Pessimistic Forecast for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price target lowered by UBS Group from $38.00 to $34.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other research firms have also issued reports on MTCH. Morgan Stanley decreased their target price on Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday. Bank of America boosted their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday. Susquehanna cut their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company reduced their price target 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. Finally, Truist Financial lowered their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.06.

Match Group Stock Up 2.8 %

Shares of Match Group stock opened at $31.45 on Thursday. The business has a fifty day simple moving average of $34.35 and a 200 day simple moving average of $34.16. The stock has a market cap of $7.90 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42.

Match Group declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership 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. Shareholders 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 yield of 2.42%. The ex-dividend date is Monday, January 6th.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the firm’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 completion of the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new position in Match Group in the second quarter valued at approximately $220,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Match Group by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock valued at $17,556,000 after buying an additional 17,540 shares during the last quarter. Penn Davis Mcfarland Inc. grew its stake in shares of Match Group by 1.0% in the second quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company’s stock valued at $14,290,000 after buying an additional 4,638 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Match Group by 7.3% during the second quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock worth $269,000 after buying an additional 598 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in Match Group by 8.1% during the second quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock worth $409,000 after buying an additional 1,010 shares during the last quarter. 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.