Truist Financial cut shares of Match Group (NASDAQ:MTCH – Get Rating) from a buy rating to a hold rating in a report published on Wednesday, MarketBeat reports. The brokerage currently has $68.00 price objective on the technology company’s stock, down from their previous price objective of $145.00.
A number of other equities research analysts also recently issued reports on MTCH. Evercore ISI reduced their price target on Match Group from $115.00 to $95.00 and set an outperform rating on the stock in a research report on Thursday, July 7th. Barclays reduced their target price on Match Group from $81.00 to $65.00 and set an equal weight rating on the stock in a report on Tuesday, July 19th. StockNews.com raised Match Group from a sell rating to a hold rating in a report on Saturday, May 14th. BTIG Research reduced their target price on Match Group from $140.00 to $110.00 in a report on Thursday, May 5th. Finally, Piper Sandler reduced their target price on Match Group from $160.00 to $125.00 in a report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $98.86.
Match Group Price Performance
Shares of NASDAQ:MTCH opened at $67.78 on Wednesday. The company has a market capitalization of $19.36 billion, a P/E ratio of 211.82, a P/E/G ratio of 0.61 and a beta of 1.15. Match Group has a 1 year low of $59.15 and a 1 year high of $182.00. The business’s 50 day simple moving average is $73.31 and its 200 day simple moving average is $88.77.
Insider Buying and Selling
In related news, CEO Bernard Jin Kim bought 16,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $63.58 per share, with a total value of $1,017,280.00. Following the transaction, the chief executive officer now directly owns 16,000 shares in the company, valued at $1,017,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Match Group by 16.8% in the 1st quarter. BlackRock Inc. now owns 27,564,956 shares of the technology company’s stock worth $2,997,413,000 after acquiring an additional 3,955,469 shares in the last quarter. Flossbach Von Storch AG raised its position in shares of Match Group by 327.0% in the 1st quarter. Flossbach Von Storch AG now owns 3,345,283 shares of the technology company’s stock worth $363,766,000 after acquiring an additional 2,561,793 shares in the last quarter. Norges Bank bought a new position in shares of Match Group in the 4th quarter worth about $324,212,000. Sustainable Growth Advisers LP raised its position in shares of Match Group by 62.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,571,215 shares of the technology company’s stock worth $388,334,000 after acquiring an additional 1,373,331 shares in the last quarter. Finally, Lone Pine Capital LLC raised its position in shares of Match Group by 14.1% in the 4th quarter. Lone Pine Capital LLC now owns 8,872,280 shares of the technology company’s stock worth $1,173,359,000 after acquiring an additional 1,098,413 shares in the last quarter. 96.11% of the stock is owned by institutional investors.
Match Group Company Profile
Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.
- Get a free copy of the StockNews.com research report on Match Group (MTCH)
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