Match Group (NASDAQ:MTCH) Earns Overweight Rating from Piper Sandler

Match Group (NASDAQ:MTCH)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They presently have a $40.00 price target on the technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 27.19% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. UBS Group reduced their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday. Susquehanna dropped their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company reduced their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, KeyCorp dropped their price objective on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Ten investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.06.

Match Group Stock Up 2.8 %

MTCH stock opened at $31.45 on Thursday. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The company has a market cap of $7.90 billion, a P/E ratio of 14.04, a PEG ratio of 1.18 and a beta of 1.47. The business has a fifty day moving average of $34.35 and a 200-day moving average of $34.12.

Match Group declared that its Board of Directors has authorized 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 purchase up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently bought and sold shares of MTCH. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Match Group during the 2nd quarter worth approximately $220,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Match Group by 3.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock valued at $17,556,000 after acquiring an additional 17,540 shares during the last quarter. Penn Davis Mcfarland Inc. grew its position in shares of Match Group by 1.0% in the 2nd quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company’s stock valued at $14,290,000 after acquiring an additional 4,638 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Match Group by 7.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock worth $269,000 after purchasing an additional 598 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Match Group by 8.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock valued at $409,000 after purchasing an additional 1,010 shares during the period. Institutional investors own 94.05% of the company’s stock.

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.