Morgan Stanley Lowers Match Group (NASDAQ:MTCH) Price Target to $33.00

Match Group (NASDAQ:MTCH) had its price objective reduced by Morgan Stanley from $36.00 to $33.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

MTCH has been the subject of a number of other research reports. UBS Group decreased their price objective on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. HSBC upgraded Match Group from a “hold” rating to a “buy” rating and set a $43.20 price target on the stock in a report on Monday, August 5th. StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company dropped their target price on Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $38.00 price objective on shares of Match Group in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.73.

Match Group Stock Performance

MTCH traded down $0.44 during trading on Tuesday, reaching $30.82. The company had a trading volume of 855,683 shares, compared to its average volume of 5,267,549. The firm’s 50-day simple moving average is $36.26 and its 200 day simple moving average is $33.95. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.85 and a beta of 1.51. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42.

Institutional Trading of Match Group

Several hedge funds have recently modified their holdings of MTCH. Sumitomo Life Insurance Co. lifted its position in Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after purchasing an additional 297 shares during the period. Fulton Bank N.A. increased its holdings in Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in shares of Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after purchasing an additional 357 shares during the period. Empirical Finance LLC boosted its position in Match Group by 1.5% during the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after acquiring an additional 384 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after purchasing an additional 455 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.