Morgan Stanley Raises Match Group (NASDAQ:MTCH) Price Target to $37.00

Match Group (NASDAQ:MTCH) had its price target increased by equities research analysts at Morgan Stanley from $34.00 to $37.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 16.45% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Wells Fargo & Company decreased their price target on 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. Wolfe Research set a $43.00 price target on Match Group and gave the company an “outperform” rating in a research report on Monday, January 5th. Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Match Group in a research note on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Match Group currently has an average rating of “Hold” and a consensus price target of $36.38.

Match Group Trading Down 0.9%

MTCH traded down $0.30 on Tuesday, reaching $31.77. The company had a trading volume of 749,908 shares, compared to its average volume of 3,013,096. The company has a market capitalization of $7.50 billion, a P/E ratio of 14.85, a PEG ratio of 0.60 and a beta of 1.33. The company has a fifty day moving average of $32.76 and a 200-day moving average of $34.10. Match Group has a one year low of $26.39 and a one year high of $39.20.

Insider Activity

In related news, CEO Spencer M. Rascoff bought 14,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were bought at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares in the last quarter. Norges Bank acquired a new position in shares of Match Group in the second quarter worth $134,429,000. Jupiter Asset Management Ltd. raised its holdings in shares of Match Group by 15,523.3% during the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock worth $107,751,000 after acquiring an additional 3,465,877 shares in the last quarter. Holocene Advisors LP boosted its position in Match Group by 2,474.5% during the third quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock valued at $96,832,000 after purchasing an additional 2,635,085 shares during the last quarter. Finally, State Street Corp boosted its position in Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after purchasing an additional 2,461,025 shares during the last quarter. 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.