Match Group (NASDAQ:MTCH) Price Target Cut to $32.00 by Analysts at Evercore ISI

Match Group (NASDAQ:MTCH) had its target price lowered by investment analysts at Evercore ISI from $35.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “in-line” rating on the technology company’s stock. Evercore ISI’s target price suggests a potential upside of 14.37% from the company’s previous close.

MTCH has been the topic of a number of other reports. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Citigroup cut their target price on Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Hsbc Global Res lowered Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a report on Friday. Fifteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.91.

Match Group Price Performance

Shares of Match Group stock traded up $0.80 on Monday, reaching $27.98. 1,334,233 shares of the company were exchanged, compared to its average volume of 4,888,109. The stock’s 50 day moving average price is $30.05 and its 200-day moving average price is $32.04. The company has a market cap of $7.01 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Match Group

A number of institutional investors have recently bought and sold shares of MTCH. Ontario Teachers Pension Plan Board raised its stake in shares of Match Group by 119.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 50,818 shares of the technology company’s stock worth $1,586,000 after buying an additional 27,669 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Match Group by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,765,162 shares of the technology company’s stock worth $86,273,000 after acquiring an additional 97,255 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in Match Group during the first quarter worth about $351,000. Exencial Wealth Advisors LLC grew its position in shares of Match Group by 7.4% in the first quarter. Exencial Wealth Advisors LLC now owns 15,720 shares of the technology company’s stock valued at $490,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of Match Group by 3.8% in the first quarter. Empower Advisory Group LLC now owns 1,954,312 shares of the technology company’s stock valued at $60,975,000 after purchasing an additional 72,353 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other 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.