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

Match Group (NASDAQ:MTCH) had its price target trimmed by Loop Capital from $35.00 to $30.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other brokerages also recently issued reports on MTCH. Piper Sandler reissued an “overweight” rating and set a $40.00 price target on shares of Match Group in a report on Thursday. Susquehanna dropped their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Truist Financial cut their price target on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday. Bank of America increased their price target on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays cut their price objective 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. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.27.

Match Group Stock Down 2.9 %

Shares of MTCH opened at $30.58 on Thursday. The stock’s 50-day moving average price is $34.47 and its 200-day moving average price is $34.11. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 13.65, 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 announced that its board has initiated 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 buy up to 19% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Monday, January 6th.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were 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 of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Several institutional investors have recently added to or reduced their stakes in MTCH. Retirement Systems of Alabama grew its stake in shares of Match Group by 2,732.1% in the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after buying an additional 1,601,115 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Match Group by 9.0% in the third quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock valued at $10,459,000 after purchasing an additional 22,887 shares during the period. Boyar Asset Management Inc. acquired a new position in shares of Match Group in the third quarter valued at approximately $1,376,000. TD Private Client Wealth LLC grew its holdings in shares of 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 purchasing an additional 3,705 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in Match Group during the 3rd quarter worth approximately $249,000. Institutional investors and hedge funds 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.