Match Group, Inc. (NASDAQ:MTCH) Receives Average Recommendation of “Hold” from Brokerages

Match Group, Inc. (NASDAQ:MTCH) has been assigned an average recommendation of “Hold” from the twenty-four analysts that are presently covering the firm, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $37.68.

Several brokerages have issued reports on MTCH. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. Susquehanna decreased their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Truist Financial cut their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Match Group in a report on Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Starboard Value LP purchased a new stake in shares of Match Group in the third quarter worth about $361,605,000. Mawer Investment Management Ltd. increased its stake in Match Group by 716.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock worth $171,889,000 after acquiring an additional 4,611,598 shares during the last quarter. Norges Bank purchased a new stake in shares of Match Group during the 4th quarter worth approximately $112,176,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock valued at $183,968,000 after acquiring an additional 2,952,470 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock valued at $343,427,000 after purchasing an additional 2,042,677 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 3.2 %

Shares of MTCH stock opened at $32.77 on Monday. Match Group has a 12-month low of $27.66 and a 12-month high of $38.84. The stock has a market capitalization of $8.23 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.83 and a beta of 1.45. The firm’s 50 day moving average is $33.32 and its 200 day moving average is $34.62.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities analysts predict that Match Group will post 2.44 earnings per share for the current year.

Match Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.32%. Match Group’s payout ratio is 37.62%.

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.