Evercore ISI Lowers Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its target price lowered by analysts at Evercore ISI from $37.00 to $35.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Evercore ISI’s target price would indicate a potential upside of 14.45% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Match Group in a research note on Monday. Barclays decreased their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. UBS Group lowered their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America raised their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Morgan Stanley dropped their target price on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.06.

Match Group Trading Down 2.9 %

MTCH stock opened at $30.58 on Friday. The stock has a market cap of $7.68 billion, a PE ratio of 13.65, a P/E/G 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. The company has a 50-day moving average price of $34.47 and a 200 day moving average price of $34.11.

Match Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on 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 SEC, which is available at this link. 0.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings 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. purchased a new stake in shares of Match Group in the third quarter worth about $31,000. Quarry LP grew its holdings in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the third quarter valued at approximately $57,000. Finally, International Assets Investment Management LLC acquired a new position in Match Group in the second quarter valued at approximately $61,000. 94.05% of the stock is currently owned by hedge funds and other 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.