JPMorgan Chase & Co. Reiterates Neutral Rating for Match Group (NASDAQ:MTCH)

Match Group (NASDAQ:MTCH - Get Free Report)'s stock had its "neutral" rating reiterated by stock analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $33.00 price objective on the technology company's stock, down from their prior price objective of $40.00. JPMorgan Chase & Co.'s target price suggests a potential upside of 6.18% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lowered their price objective on shares of Match Group from $39.00 to $36.00 and set a "hold" rating for the company in a research report on Thursday, December 12th. Morgan Stanley lowered their price target on shares of Match Group from $33.00 to $31.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. KeyCorp dropped their price objective on shares of Match Group from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Loop Capital decreased their price objective on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Match Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.68.

Match Group Price Performance

Shares of MTCH stock traded down $0.50 during trading hours on Wednesday, hitting $31.08. 4,671,374 shares of the company's stock were exchanged, compared to its average volume of 5,209,095. The stock's 50-day moving average is $34.01 and its 200-day moving average is $34.19. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47.

Match Group announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business's stock in a transaction that occurred on 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 directly owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Retirement Systems of Alabama raised its holdings in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock worth $62,804,000 after acquiring an additional 1,601,115 shares during the period. Franklin Resources Inc. increased its holdings in Match Group by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company's stock worth $10,459,000 after purchasing an additional 22,887 shares in the last quarter. Boyar Asset Management Inc. acquired a new stake in shares of Match Group in the 3rd quarter valued at about $1,376,000. TD Private Client Wealth LLC raised its stake in shares of Match Group by 131.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company's stock valued at $247,000 after purchasing an additional 3,705 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Match Group in the third quarter valued at about $249,000. 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.