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

Match Group (NASDAQ:MTCH) had its price target hoisted by equities researchers at Morgan Stanley from $34.00 to $37.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential upside of 16.45% from the company’s current price.

Several other research firms have also recently issued reports on MTCH. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Evercore ISI reduced their price target on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 5th. 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. Finally, Raymond James Financial reissued a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.38.

Match Group Trading Down 0.9%

NASDAQ MTCH traded down $0.30 during mid-day trading on Tuesday, reaching $31.77. 749,908 shares of the company’s stock traded hands, compared to its average volume of 3,013,096. Match Group has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a fifty day simple moving average of $32.76 and a 200-day simple moving average of $34.10. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.60 and a beta of 1.33.

Insiders Place Their Bets

In related news, CEO Spencer M. Rascoff bought 14,000 shares of the business’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 completion of the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Match Group

Several institutional investors have recently modified their holdings of the company. Woodline Partners LP acquired a new position in Match Group during the 1st quarter valued at about $662,000. Parallel Advisors LLC raised its holdings in shares of Match Group by 18.5% during the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock valued at $77,000 after buying an additional 390 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Match Group by 56.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after buying an additional 362 shares during the period. Czech National Bank grew its holdings in Match Group by 3.9% in the 2nd quarter. Czech National Bank now owns 59,941 shares of the technology company’s stock worth $1,852,000 after buying an additional 2,270 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Match Group in the 2nd quarter worth approximately $207,000. Institutional investors 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.