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

Match Group (NASDAQ:MTCH - Get Free Report)'s stock had its "cautious" rating reissued by equities researchers at Evercore ISI in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $32.00 target price on the technology company's stock. Evercore ISI's price objective would indicate a potential upside of 9.55% from the company's previous close.

Several other brokerages have also recently issued reports on MTCH. Morgan Stanley dropped their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus dropped their price objective on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Hsbc Global Res lowered shares of Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. UBS Group reduced their target price on shares of Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Citigroup decreased their price target 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, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $35.91.

Match Group Trading Down 0.8%

NASDAQ:MTCH traded down $0.24 during trading hours on Wednesday, reaching $29.21. The company had a trading volume of 3,248,511 shares, compared to its average volume of 4,919,370. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.82 and a beta of 1.42. The firm's 50 day moving average price is $29.63 and its 200-day moving average price is $31.55. Match Group has a 52 week low of $26.39 and a 52 week high of $38.84.

Insider Transactions at Match Group

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

Institutional Trading of Match Group

A number of institutional investors have recently bought and sold shares of MTCH. IFM Investors Pty Ltd grew its holdings in Match Group by 19.7% during the 1st quarter. IFM Investors Pty Ltd now owns 53,058 shares of the technology company's stock valued at $1,655,000 after purchasing an additional 8,725 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Match Group during the first quarter valued at about $367,000. Woodline Partners LP purchased a new stake in shares of Match Group during the first quarter valued at about $662,000. MBB Public Markets I LLC bought a new stake in shares of Match Group in the 1st quarter valued at about $312,000. Finally, Aristeia Capital L.L.C. purchased a new position in shares of Match Group in the 1st quarter worth approximately $229,000. 94.05% of the stock is currently owned by institutional investors.

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.