Morgan Stanley Increases Match Group (NASDAQ:MTCH) Price Target to $33.00

Match Group (NASDAQ:MTCH - Free Report) had its price target raised by Morgan Stanley from $32.00 to $33.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the technology company's stock.

A number of other research analysts have also recently commented on MTCH. Loop Capital cut their price target on shares of Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, December 12th. BTIG Research downgraded Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. New Street Research cut Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Finally, Susquehanna reduced their target price on shares of Match Group from $45.00 to $40.00 and set a "positive" rating on the stock in a research note on Friday, November 8th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $37.68.

Match Group Price Performance

MTCH stock traded down $0.18 on Thursday, reaching $33.62. 2,496,717 shares of the company were exchanged, compared to its average volume of 4,338,137. The firm has a market capitalization of $8.44 billion, a PE ratio of 16.64, a PEG ratio of 1.14 and a beta of 1.45. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The stock's fifty day moving average price is $33.01 and its 200 day moving average price is $34.67.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. As a group, research analysts expect that Match Group will post 2.49 EPS for the current fiscal year.

Match Group declared that its board has initiated a share buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.26%. Match Group's dividend payout ratio (DPR) is 37.62%.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were 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 of the company's stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Match Group

A number of large investors have recently modified their holdings of the business. Starboard Value LP acquired a new stake in shares of Match Group in the third quarter valued at about $361,605,000. Retirement Systems of Alabama increased its position in shares of Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock worth $62,804,000 after purchasing an additional 1,601,115 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Match Group during the 4th quarter worth approximately $45,768,000. Seizert Capital Partners LLC raised its stake in shares of Match Group by 468.6% during the 4th quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company's stock worth $48,475,000 after purchasing an additional 1,221,347 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Match Group by 3,325.7% in the 4th quarter. KBC Group NV now owns 1,122,906 shares of the technology company's stock valued at $36,730,000 after buying an additional 1,090,127 shares during the last quarter. 94.05% of the stock is currently 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.