Match Group's (MTCH) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Match Group's stock maintains a "hold" rating from Weiss Ratings, with a consensus price target of $35.44.
• Recent research notes show price target increases from several firms, with Evercore ISI setting it at $38.00 and Susquehanna at $45.00.
• Insider selling occurred recently, with CAO Philip D. Eigenmann reducing his stake by over 21% after selling 6,531 shares.

Match Group (NASDAQ:MTCH - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the company. Evercore ISI lifted their price target on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. UBS Group increased their price target on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their target price on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Susquehanna raised their target price on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their target price on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.44.

Match Group Stock Performance

MTCH stock opened at $33.21 on Wednesday. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The firm has a market cap of $7.99 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 0.66 and a beta of 1.38. The firm has a fifty day moving average price of $36.62 and a 200 day moving average price of $32.72.

Insider Buying and Selling at Match Group

In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the transaction, the chief accounting officer directly owned 23,240 shares of the company's stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ann Mcdaniel sold 5,423 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the sale, the director owned 21,926 shares in the company, valued at $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,454 shares of company stock worth $907,839. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Match Group

Hedge funds have recently modified their holdings of the stock. Employees Retirement System of Texas acquired a new position in Match Group during the 2nd quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Match Group by 56.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock valued at $31,000 after acquiring an additional 362 shares in the last quarter. Caldwell Trust Co bought a new stake in Match Group during the 2nd quarter worth about $32,000. NBC Securities Inc. acquired a new stake in shares of Match Group during the first quarter worth $37,000. Finally, SVB Wealth LLC bought a new stake in shares of Match Group in the first quarter valued at about $49,000. 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.

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