Analysts Set Match Group Inc. (NASDAQ:MTCH) Price Target at $35.91

Match Group Inc. (NASDAQ:MTCH) has been assigned an average recommendation of “Hold” from the twenty-four analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.91.

Several brokerages have commented on MTCH. JPMorgan Chase & Co. lowered their price target on Match Group from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Barclays decreased their price objective on shares of Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Bank of America lowered their target price on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Evercore ISI reissued a “cautious” rating and set a $32.00 target price on shares of Match Group in a research report on Wednesday, May 21st. Finally, Citigroup decreased their price target on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, May 9th.

Match Group Stock Performance

Shares of MTCH stock opened at $30.42 on Friday. The stock’s 50 day simple moving average is $30.06 and its 200 day simple moving average is $31.37. Match Group has a twelve month low of $26.39 and a twelve month high of $38.84. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.70 and a beta of 1.35.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.50%. Match Group’s dividend payout ratio (DPR) is 37.62%.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the stock in a transaction on Friday, May 9th. The shares were purchased at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the acquisition, the chief executive officer now directly owns 137,478 shares of the company’s stock, valued at $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Match Group

Several institutional investors have recently made changes to their positions in MTCH. NBC Securities Inc. acquired a new position in Match Group in the first quarter worth about $37,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group in the 4th quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Match Group by 30,240.0% in 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 in the last quarter. SVB Wealth LLC acquired a new position in shares of Match Group in the 1st quarter worth approximately $49,000. Finally, Summit Securities Group LLC bought a new position in shares of Match Group during the 1st quarter worth approximately $54,000. 94.05% of the stock is currently 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.