UBS Group Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price objective dropped by equities researchers at UBS Group from $38.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. UBS Group’s price objective indicates a potential upside of 8.11% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company cut their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Match Group in a report on Monday, December 9th. Finally, KeyCorp lowered their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

Match Group Stock Performance

Shares of Match Group stock opened at $31.45 on Thursday. The firm has a fifty day moving average of $34.35 and a two-hundred day moving average of $34.12. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.18 and a beta of 1.47. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42.

Match Group declared that its board has authorized a stock repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now owns 12,398 shares of the company’s stock, valued at $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 available through this hyperlink. 0.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Starboard Value LP acquired a new stake in Match Group during the 3rd quarter valued at $361,605,000. Pacer Advisors Inc. raised its position in shares of Match Group by 88.5% in the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the period. Marshall Wace LLP acquired a new stake in shares of Match Group during the 2nd quarter worth about $49,053,000. Retirement Systems of Alabama boosted its holdings in shares of Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after buying an additional 1,601,115 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Match Group by 75.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after buying an additional 977,090 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Company Profile

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.