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

Match Group (NASDAQ:MTCH) had its price objective dropped by equities research analysts at Evercore ISI from $35.00 to $32.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s price target suggests a potential upside of 14.37% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on MTCH. 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. Citigroup dropped their target price on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America reduced their price target on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. HSBC cut Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus reduced their target price on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.91.

Match Group Price Performance

NASDAQ MTCH traded up $0.80 during trading hours on Monday, reaching $27.98. The company’s stock had a trading volume of 1,334,233 shares, compared to its average volume of 4,888,109. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84. The company’s 50-day moving average is $30.05 and its two-hundred day moving average is $32.04. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 13.84, a P/E/G 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 on Friday, March 7th. The stock was 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 owns 1,690 shares of the company’s stock, valued at $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Match Group

Several large investors have recently modified their holdings of MTCH. Nisa Investment Advisors LLC increased its position in shares of Match Group by 94.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 28,884 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after acquiring an additional 939,078 shares during the last quarter. Penn Davis Mcfarland Inc. lifted its holdings in shares of Match Group by 1.8% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company’s stock worth $15,665,000 after acquiring an additional 8,414 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Match Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after acquiring an additional 69,947 shares during the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Match Group in the 4th quarter worth approximately $250,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.