Brokerages Set Match Group, Inc. (NASDAQ:MTCH) Price Target at $37.68

Shares of Match Group, Inc. (NASDAQ:MTCH) have earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.68.

MTCH has been the subject of several research analyst reports. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. UBS Group reduced their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus lowered their target price on shares of Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its stake in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Match Group during the third quarter worth about $31,000. Quarry LP raised its position in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group in the third quarter valued at approximately $57,000. Finally, International Assets Investment Management LLC acquired a new stake in Match Group during the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of Match Group stock opened at $32.68 on Friday. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42. The firm’s 50-day simple moving average is $32.85 and its 200-day simple moving average is $34.29. The firm has a market cap of $8.21 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.33%. Match Group’s dividend payout ratio is presently 33.93%.

Match Group announced that its board has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.