Evercore ISI Reiterates Cautious Rating for Match Group (NASDAQ:MTCH)

Match Group (NASDAQ:MTCH - Get Free Report)'s stock had its "cautious" rating reiterated by Evercore ISI in a research note issued on Wednesday, Marketbeat reports. They currently have a $32.00 target price on the technology company's stock. Evercore ISI's price target would indicate a potential upside of 8.66% from the company's previous close.

Several other equities analysts have also recently commented on the company. Hsbc Global Res cut Match Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. HSBC lowered Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Barclays lowered their price target on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $35.91.

Match Group Stock Performance

Shares of MTCH opened at $29.45 on Wednesday. The company has a 50-day simple moving average of $29.67 and a 200-day simple moving average of $31.65. Match Group has a 52 week low of $26.39 and a 52 week high of $38.84. The firm has a market capitalization of $7.38 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.82 and a beta of 1.42.

Insider Activity at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. This represents a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.64% of the company's stock.

Hedge Funds Weigh In On Match Group

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in Match Group by 94.3% in 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. raised 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 worth $211,818,000 after acquiring an additional 939,078 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Match Group by 2.7% during the fourth 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. Truist Financial Corp acquired a new position in shares of Match Group during the fourth quarter valued at $250,000. Finally, AustralianSuper Pty Ltd boosted its holdings in Match Group by 149.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 733,536 shares of the technology company's stock valued at $23,994,000 after acquiring an additional 439,432 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

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.