Brokerages Set Match Group, Inc. (NASDAQ:MTCH) PT at $37.68

Match Group, Inc. (NASDAQ:MTCH) has earned a consensus recommendation of “Hold” from the twenty-four analysts that are presently covering the firm, Marketbeat.com reports. Fifteen research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.68.

A number of analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley boosted their price objective on shares of Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Loop Capital reduced their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th.

Match Group Stock Down 0.7 %

MTCH stock opened at $31.21 on Friday. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 15.45, 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 firm has a 50 day moving average of $32.93 and a two-hundred day moving average of $34.01.

Match Group (NASDAQ:MTCH) last posted its earnings results 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, research analysts expect that Match Group will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.44%. Match Group’s dividend payout ratio is 37.62%.

Match Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Trading of Match Group

Several hedge funds have recently bought and sold shares of MTCH. Venturi Wealth Management LLC raised its holdings in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the 3rd quarter worth approximately $31,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group during the 4th quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC grew its stake 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 worth $50,000 after acquiring an additional 1,512 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Match Group during the 3rd quarter worth approximately $57,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.