Match Group (NASDAQ:MTCH) Given New $52.00 Price Target at Barclays

Match Group (NASDAQ:MTCH) had its price objective cut by Barclays from $53.00 to $52.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities analysts also recently commented on MTCH. Morgan Stanley boosted their price objective on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price target on shares of Match Group in a report on Monday, December 9th. Loop Capital decreased their target price 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. Finally, New Street Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Match Group has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Trading Up 3.0 %

Shares of NASDAQ:MTCH opened at $34.59 on Thursday. The stock has a 50 day moving average of $32.95 and a 200 day moving average of $34.66. The company has a market cap of $8.69 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. Match Group has a 12-month low of $27.66 and a 12-month high of $38.84.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. Equities research analysts predict that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.20%. Match Group’s payout ratio is currently 33.93%.

Match Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of large investors have recently bought and sold shares of MTCH. Venturi Wealth Management LLC increased its holdings in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Match Group during the 3rd quarter worth $31,000. Northwest & Ethical Investments L.P. bought a new stake in Match Group during the third quarter valued at about $57,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC bought a new position in Match Group in the third quarter worth about $87,000. 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.