Match Group, Inc. (NASDAQ:MTCH) Receives $37.68 Average PT from Analysts

Shares of Match Group, Inc. (NASDAQ:MTCH) have received a consensus recommendation of “Hold” from the twenty-four research firms that are covering the company, MarketBeat reports. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $37.68.

A number of equities analysts recently weighed in on MTCH shares. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America boosted their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley raised their price target on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th.

Insider Activity

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Match Group by 2.3% in the third quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after acquiring an additional 391,977 shares in the last quarter. Starboard Value LP increased its holdings in Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock worth $479,429,000 after purchasing an additional 5,100,824 shares during the period. Ameriprise Financial Inc. raised its position in Match Group by 24.2% in the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock valued at $343,427,000 after purchasing an additional 2,042,677 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Match Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after buying an additional 939,078 shares during the period. Finally, Invesco Ltd. grew its position in shares of Match Group by 25.3% during the fourth quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company’s stock worth $190,608,000 after buying an additional 1,174,889 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Trading Up 2.9 %

Match Group stock opened at $30.94 on Friday. The firm has a market cap of $7.75 billion, a PE ratio of 15.32, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The stock’s 50 day simple moving average is $33.02 and its two-hundred day simple moving average is $34.13.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, equities research analysts forecast that Match Group will post 2.44 EPS for the current year.

Match Group declared that its board has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is presently 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.