Match Group (NASDAQ:MTCH) Given New $52.00 Price Target at Barclays

Match Group (NASDAQ:MTCH) had its target price reduced by analysts at Barclays from $53.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 54.85% from the stock’s current price.

A number of other analysts have also recently issued reports on MTCH. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. UBS Group dropped their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Susquehanna reduced their price objective 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Fourteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.68.

Match Group Trading Down 7.9 %

Shares of NASDAQ:MTCH opened at $33.58 on Thursday. The stock has a market cap of $8.43 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. The stock’s fifty day simple moving average is $32.93 and its two-hundred day simple moving average is $34.67. Match Group has a 1-year low of $27.66 and a 1-year high of $38.84.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. On average, sell-side analysts forecast that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Match Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Life Insurance Co. increased its holdings in shares of Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after acquiring an additional 297 shares in the last quarter. Fulton Bank N.A. grew its position in Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after purchasing an additional 299 shares during the last quarter. Metis Global Partners LLC increased its stake in Match Group by 3.0% during the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock valued at $358,000 after purchasing an additional 318 shares in the last quarter. Empirical Finance LLC raised its holdings in Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after buying an additional 384 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Match Group by 1.5% in the third 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 in the last quarter. Hedge funds and other institutional investors 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.