Match Group (NASDAQ:MTCH) Earns Outperform Rating from Royal Bank of Canada

Match Group (NASDAQ:MTCH)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They currently have a $35.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 5.84% from the stock’s current price.

Several other brokerages have also recently weighed in on MTCH. Bank of America restated a “neutral” rating and set a $35.00 target price (down from $50.00) on shares of Match Group in a report on Thursday, November 7th. UBS Group lowered their price objective on Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Barclays cut their target price on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Finally, Morgan Stanley reduced their target price on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.73.

Match Group Trading Up 0.4 %

NASDAQ:MTCH opened at $33.07 on Monday. The company has a market cap of $8.30 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.91 and a beta of 1.47. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The company’s 50-day moving average price is $34.90 and its 200-day moving average price is $34.10.

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

A number of large investors have recently modified their holdings of the stock. Sumitomo Life Insurance Co. boosted its holdings in Match Group by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after purchasing an additional 297 shares during the period. Fulton Bank N.A. boosted its stake in shares of Match Group by 3.1% in the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after buying an additional 299 shares during the period. Prestige Wealth Management Group LLC grew its position in shares of Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after buying an additional 357 shares in the last quarter. Empirical Finance LLC increased its stake in shares of Match Group by 1.5% during the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after buying an additional 384 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after acquiring an additional 455 shares in the last quarter. Hedge funds and other institutional investors 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.