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

Match Group, Inc. (NASDAQ:MTCH) has earned an average rating of “Hold” from the twenty-four research firms that are presently covering the company, MarketBeat reports. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $37.68.

MTCH has been the topic of a number of research analyst reports. New Street Research lowered Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. KeyCorp decreased their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. BTIG Research lowered Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Susquehanna decreased their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Finally, Loop Capital decreased their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th.

Insider Buying and Selling at Match Group

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

Hedge Funds Weigh In On Match Group

Several institutional investors have recently made changes to their positions in MTCH. Starboard Value LP acquired a new position in shares of Match Group during the third quarter valued at about $361,605,000. Mawer Investment Management Ltd. raised its holdings in shares of Match Group by 716.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock worth $171,889,000 after acquiring an additional 4,611,598 shares during the last quarter. Norges Bank acquired a new stake in shares of Match Group in the 4th quarter worth about $112,176,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Match Group by 110.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock worth $183,968,000 after acquiring an additional 2,952,470 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Match Group by 24.2% in the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock worth $343,427,000 after acquiring an additional 2,042,677 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ MTCH opened at $34.47 on Monday. Match Group has a twelve month low of $27.66 and a twelve month high of $38.84. The stock has a market capitalization of $8.66 billion, a PE ratio of 17.06, a P/E/G ratio of 0.84 and a beta of 1.45. The stock has a 50-day simple moving average of $33.20 and a 200 day simple moving average of $34.63.

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 net margin of 15.84% and a negative return on equity of 574.22%. As a group, equities research analysts forecast that Match Group will post 2.44 EPS for the current fiscal year.

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

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.20%. Match Group’s payout ratio is 37.62%.

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.