Match Group (NASDAQ:MTCH) Lowered to “Hold” Rating by Hsbc Global Res

Hsbc Global Res lowered shares of Match Group (NASDAQ:MTCH) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Match Group in a research note on Thursday, December 12th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays reduced their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, HSBC lowered Match Group from a “buy” rating to a “hold” rating in a report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.68.

Match Group Trading Down 2.3 %

Match Group stock opened at $33.80 on Thursday. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The stock has a fifty day simple moving average of $32.99 and a two-hundred day simple moving average of $34.66. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data 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 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 2.49 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.25%. Match Group’s dividend payout ratio (DPR) is currently 37.62%.

Match Group announced that its Board of Directors has initiated a stock repurchase plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Match Group

Large investors have recently modified their holdings of the stock. Starboard Value LP purchased a new position in Match Group during the third quarter worth $361,605,000. Retirement Systems of Alabama boosted its stake in shares of Match Group by 2,732.1% during the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after purchasing an additional 1,601,115 shares during the period. Seizert Capital Partners LLC grew its holdings in Match Group by 468.6% during the 4th quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company’s stock valued at $48,475,000 after purchasing an additional 1,221,347 shares during the last quarter. KBC Group NV raised its position in Match Group by 3,325.7% in the 4th quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock worth $36,730,000 after purchasing an additional 1,090,127 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

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.