Match Group (NASDAQ:MTCH) Price Target Raised to $37.00

Match Group (NASDAQ:MTCH) had its price objective hoisted by Morgan Stanley from $34.00 to $37.00 in a research note released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price target on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. UBS Group set a $37.00 target price on shares of Match Group in a research report on Tuesday. Wolfe Research set a $43.00 price target on Match Group and gave the company an “outperform” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Finally, Evercore ISI dropped their price objective on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Match Group presently has an average rating of “Hold” and a consensus target price of $36.38.

Match Group Trading Down 1.2%

Shares of NASDAQ:MTCH opened at $31.60 on Tuesday. Match Group has a 1-year low of $26.39 and a 1-year high of $39.20. The stock has a market capitalization of $7.46 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.60 and a beta of 1.33. The business has a 50-day moving average price of $32.72 and a two-hundred day moving average price of $34.08.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, January 6th. Match Group’s payout ratio is presently 35.51%.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff purchased 14,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were bought at an average price of $31.84 per share, with a total value of $445,760.00. Following the completion of the transaction, the chief executive officer directly owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares during the period. Norges Bank bought a new stake in shares of Match Group during the second quarter worth $134,429,000. Jupiter Asset Management Ltd. raised its holdings in shares of Match Group by 15,523.3% during the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock worth $107,751,000 after acquiring an additional 3,465,877 shares during the period. Holocene Advisors LP raised its holdings in shares of Match Group by 2,474.5% during the third quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock worth $96,832,000 after acquiring an additional 2,635,085 shares during the period. Finally, State Street Corp increased its holdings in Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.