Barclays Lowers Match Group (NASDAQ:MTCH) Price Target to $46.00

Match Group (NASDAQ:MTCH - Get Free Report) had its price objective reduced by investment analysts at Barclays from $52.00 to $46.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. Barclays's price objective suggests a potential upside of 56.41% from the stock's previous close.

MTCH has been the topic of several other reports. Evercore ISI downgraded Match Group from an "outperform" rating to an "inline" rating and set a $35.00 target price on the stock. in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on shares of Match Group from $33.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Bank of America cut their price target on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Citigroup lowered their price objective on Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, HSBC cut Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $35.91.

Match Group Stock Up 2.1%

Shares of MTCH stock traded up $0.61 during mid-day trading on Friday, reaching $29.41. 6,114,271 shares of the stock traded hands, compared to its average volume of 4,916,897. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. The stock's fifty day simple moving average is $29.93 and its two-hundred day simple moving average is $31.96.

Insider Buying and Selling at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $28.05 per share, for a total transaction 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 approximately $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Gary Swidler sold 242,209 shares of the business's stock in a transaction dated Friday, March 7th. The stock was 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 owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Match Group

Several hedge funds and other institutional investors have recently bought and sold shares of MTCH. Starboard Value LP grew its position in shares of Match Group by 53.4% during the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after buying an additional 5,100,824 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Match Group by 17.4% in the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock valued at $384,808,000 after purchasing an additional 1,822,362 shares in the last quarter. Invesco Ltd. grew its stake in Match Group by 64.2% in the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after purchasing an additional 3,738,509 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after buying an additional 939,078 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Match Group by 110.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock valued at $183,968,000 after buying an additional 2,952,470 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other 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.