Royal Bank of Canada Reiterates Outperform Rating for Match Group (NASDAQ:MTCH)

Match Group (NASDAQ:MTCH)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $35.00 price objective on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 5.84% from the stock’s previous close.

A number of other research firms have also recently commented on MTCH. Barclays decreased their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Bank of America reiterated a “neutral” rating and issued a $35.00 target price (down from $50.00) on shares of Match Group in a research note on Thursday, November 7th. Morgan Stanley cut their price target on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. UBS Group lowered their price objective on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Finally, Wells Fargo & Company reduced their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Nine research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.73.

Match Group Trading Up 0.4 %

NASDAQ MTCH opened at $33.07 on Monday. The firm’s fifty day simple moving average is $34.90 and its two-hundred day simple moving average is $34.10. The firm has a market capitalization of $8.30 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.91 and a beta of 1.47. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the 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 in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MTCH. Sumitomo Life Insurance Co. increased its holdings in Match Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after acquiring an additional 297 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Match Group by 8.9% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after purchasing an additional 357 shares during the last quarter. Empirical Finance LLC lifted its stake in Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Match Group by 1.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after buying an additional 455 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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.