Citigroup Cuts Match Group (NASDAQ:MTCH) Price Target to $30.00

Match Group (NASDAQ:MTCH) had its price target reduced by Citigroup from $31.00 to $30.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

MTCH has been the topic of a number of other reports. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Barclays reduced their target price on Match Group from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday. Stifel Nicolaus reduced their target price on Match Group from $35.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Evercore ISI downgraded Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price on the stock. in a report on Thursday, February 6th. Finally, UBS Group reduced their target price on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus target price of $36.06.

Match Group Trading Down 1.1%

NASDAQ MTCH opened at $27.18 on Friday. The stock’s 50 day moving average is $30.05 and its two-hundred day moving average is $32.04. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.82 and a beta of 1.42. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, July 3rd. Match Group’s dividend payout ratio is 37.62%.

Insiders Place Their Bets

In other Match Group news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on 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 completion of the sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently made changes to their positions in MTCH. NBC Securities Inc. bought a new stake in shares of Match Group during the 1st quarter valued at $37,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group during the 4th quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of 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 valued at $50,000 after acquiring an additional 1,512 shares during the last quarter. Mather Group LLC. raised its position in shares of Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock valued at $79,000 after acquiring an additional 1,434 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

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.