Morgan Stanley Issues Positive Forecast for Match Group (NASDAQ:MTCH) Stock Price

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

Several other equities research analysts have also recently commented on MTCH. UBS Group set a $37.00 price target on shares of Match Group in a research report on Tuesday. Truist Financial dropped their target price on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Wells Fargo & Company cut their target price 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. Evercore ISI decreased their price target on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price objective on shares of Match Group in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.38.

Match Group Stock Performance

MTCH opened at $31.68 on Tuesday. The company has a market capitalization of $7.48 billion, a PE ratio of 14.80, a P/E/G ratio of 0.60 and a beta of 1.33. The stock’s fifty day moving average is $32.77 and its 200-day moving average is $34.11. Match Group has a one year low of $26.39 and a one year high of $39.20.

Match Group Dividend Announcement

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

Insider Transactions at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The stock was bought at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the acquisition, the chief executive officer directly owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Global X Japan Co. Ltd. boosted its position in Match Group by 388.6% during the 4th quarter. Global X Japan Co. Ltd. now owns 10,113 shares of the technology company’s stock worth $327,000 after acquiring an additional 8,043 shares during the period. Mather Group LLC. increased its holdings in shares of Match Group by 6.0% in the 4th quarter. Mather Group LLC. now owns 6,477 shares of the technology company’s stock valued at $209,000 after purchasing an additional 364 shares during the period. Czech National Bank lifted its position in shares of Match Group by 1.9% in the fourth quarter. Czech National Bank now owns 62,249 shares of the technology company’s stock worth $2,010,000 after purchasing an additional 1,136 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Match Group during the fourth quarter worth approximately $1,299,000. Finally, True Wealth Design LLC grew its position in Match Group by 12.8% during the fourth quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock valued at $91,000 after purchasing an additional 320 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Company Profile

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.