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

Shares of Match Group, Inc. (NASDAQ:MTCH) have been given a consensus recommendation of “Hold” by the twenty-four brokerages that are currently covering the firm, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $37.68.

Several brokerages have weighed in on MTCH. Loop Capital cut their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. UBS Group cut their target price 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. BTIG Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 6th.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $30.99 on Friday. The firm has a market capitalization of $7.76 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. Match Group has a 1 year low of $27.66 and a 1 year high of $38.84. The firm’s 50-day moving average is $32.95 and its two-hundred day moving average is $34.05.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results 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 negative return on equity of 574.22% and a net margin of 15.84%. Analysts expect that Match Group will post 2.44 EPS for the current fiscal year.

Match Group declared that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Match Group in the 3rd quarter valued at $31,000. Canada Post Corp Registered Pension Plan acquired a new position in Match Group in the 4th quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after buying an additional 1,512 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group in the 3rd quarter worth $57,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.