Match Group (NASDAQ:MTCH) Price Target Lowered to $35.00 at Stifel Nicolaus

Match Group (NASDAQ:MTCH) had its price objective lowered by Stifel Nicolaus from $36.00 to $35.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other brokerages have also issued reports on MTCH. Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Evercore ISI cut shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday. New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, UBS Group lowered their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Fifteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $37.68.

Match Group Stock Performance

Shares of MTCH opened at $34.59 on Thursday. The firm’s 50 day moving average price is $32.95 and its two-hundred day moving average price is $34.66. Match Group has a twelve month low of $27.66 and a twelve month high of $38.84. The firm has a market cap of $8.69 billion, a P/E ratio of 15.44, a PEG ratio of 1.10 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. On average, sell-side analysts anticipate that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is 33.93%.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group in the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group in the third quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares during the period. Finally, Solstein Capital LLC acquired a new stake in Match Group during the third quarter worth approximately $87,000. 94.05% of the stock is owned by institutional investors.

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.