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

Match Group (NASDAQ:MTCH)‘s stock had its “neutral” rating reaffirmed by research analysts at JPMorgan Chase & Co. in a report released on Wednesday,Benzinga reports. They currently 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 price objective indicates a potential upside of 4.50% from the company’s current price.

A number of other analysts have also recently commented on MTCH. Barclays cut their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. 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 report on Thursday, December 12th. Susquehanna cut their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. UBS Group cut their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price target on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Thirteen equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Match Group has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Match Group Stock Down 2.4 %

NASDAQ:MTCH opened at $31.58 on Wednesday. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The business has a 50 day moving average price of $34.12 and a two-hundred day moving average price of $34.21. The company has a market cap of $7.93 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47.

Match Group declared that its board has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Retirement Systems of Alabama lifted its holdings in shares of Match Group by 2,732.1% in 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 in the last quarter. Franklin Resources Inc. boosted its stake in Match Group by 9.0% in the third quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock valued at $10,459,000 after acquiring an additional 22,887 shares during the last quarter. Boyar Asset Management Inc. purchased a new position in Match Group in the third quarter valued at approximately $1,376,000. TD Private Client Wealth LLC lifted its position in shares of Match Group by 131.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company’s stock valued at $247,000 after buying an additional 3,705 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in Match Group during the third quarter worth about $249,000. 94.05% of the stock is owned by institutional investors.

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.