Match Group (NASDAQ:MTCH) Given New $28.00 Price Target at JPMorgan Chase & Co.

Match Group (NASDAQ:MTCH) had its target price lowered by analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.02% from the stock’s previous close.

A number of other research firms have also recently commented on MTCH. Bank of America decreased their target price on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Finally, Morgan Stanley lowered their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.06.

Match Group Stock Down 1.1 %

Shares of MTCH opened at $27.18 on Friday. The business has a 50-day simple moving average of $30.05 and a two-hundred day simple moving average of $32.08. Match Group has a 52 week low of $26.39 and a 52 week high of $38.84. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.82 and a beta of 1.42.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated 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 transaction, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Match Group

Several hedge funds have recently modified their holdings of the business. Starboard Value LP raised its stake in Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock worth $479,429,000 after buying an additional 5,100,824 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of Match Group by 716.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock worth $171,889,000 after purchasing an additional 4,611,598 shares during the last quarter. Norges Bank bought a new stake in Match Group during the fourth quarter valued at about $112,176,000. Arrowstreet Capital Limited Partnership grew its stake in Match Group by 110.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock valued at $183,968,000 after purchasing an additional 2,952,470 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock worth $343,427,000 after purchasing an additional 2,042,677 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.