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

Match Group, Inc. (NASDAQ:MTCH) has been assigned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $37.68.

MTCH has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. KeyCorp cut their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Barclays decreased their price objective on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Loop Capital reduced their target price on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Finally, UBS Group lowered their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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 the company. Venturi Wealth Management LLC lifted its holdings in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. bought a new position in Match Group during the third quarter valued at $31,000. Quarry LP raised its stake in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group during the 3rd quarter valued at $57,000. Finally, International Assets Investment Management LLC bought a new position in shares of Match Group during the 2nd quarter worth $61,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 0.3 %

Shares of MTCH stock opened at $32.71 on Friday. The stock has a market cap of $8.21 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The stock has a 50 day simple moving average of $33.13 and a 200 day simple moving average of $34.30. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.32%. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

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

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.