Match Group (NASDAQ:MTCH) Rating Increased to Buy at Wall Street Zen

Match Group (NASDAQ:MTCH) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts also recently issued reports on the company. Wells Fargo & Company cut their price target on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Evercore cut their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a report on Thursday, January 22nd. Truist Financial dropped their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $37.00 price objective on shares of Match Group in a research report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $35.86.

Match Group Stock Up 2.5%

Shares of NASDAQ:MTCH opened at $31.63 on Friday. The company has a market cap of $7.47 billion, a PE ratio of 13.29, a P/E/G ratio of 0.57 and a beta of 1.32. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The firm has a 50-day simple moving average of $32.27 and a 200 day simple moving average of $33.94.

Insider Buying and Selling

In related news, CEO Spencer M. Rascoff purchased 14,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the transaction, the chief executive officer owned 165,128 shares of the company’s stock, valued at $5,257,675.52. This represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTCH. Harbor Capital Advisors Inc. acquired a new stake in Match Group in the third quarter worth approximately $25,000. Root Financial Partners LLC bought a new stake in shares of Match Group in the 3rd quarter worth $27,000. Employees Retirement System of Texas acquired a new stake in shares of Match Group in the second quarter valued at $28,000. Activest Wealth Management boosted its stake in Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after buying an additional 848 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Match Group during the third quarter worth about $28,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.