Match Group (NASDAQ:MTCH) Price Target Lowered to $34.00 at Truist Financial

Match Group (NASDAQ:MTCH) had its price target dropped by stock analysts at Truist Financial from $35.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Truist Financial’s price objective would indicate a potential upside of 12.25% from the stock’s current price.

Other analysts also recently issued research reports about the company. Susquehanna lowered their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. UBS Group lowered their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. Barclays lowered their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Stifel Nicolaus lowered their target price on Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Morgan Stanley lowered their target price on Match Group from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.07.

Match Group Trading Down 3.8 %

Shares of MTCH stock traded down $1.19 during mid-day trading on Thursday, reaching $30.29. The stock had a trading volume of 3,268,447 shares, compared to its average volume of 5,179,485. The business’s fifty day moving average is $34.60 and its 200-day moving average is $34.13. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.91 and a beta of 1.47. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

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

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Several institutional investors have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC increased its position in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Match Group in the 3rd quarter valued at approximately $31,000. Quarry LP raised its holdings in Match Group by 54.5% in the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after acquiring an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in Match Group in the 3rd quarter valued at $57,000. Finally, International Assets Investment Management LLC acquired a new position in Match Group in the 2nd quarter valued at $61,000. 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.