Match Group (NASDAQ:MTCH) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Match Group (NASDAQ:MTCH) in a report released on Wednesday, MarketBeat.com reports. JPMorgan Chase & Co. currently has a $33.00 price target on the technology company’s stock, down from their previous price target of $40.00.

Several other brokerages have also weighed in on MTCH. KeyCorp decreased their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI decreased their price objective on Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Match Group in a report on Monday, December 9th. New Street Research lowered Match Group from a “buy” rating to a “neutral” rating in a research note on Monday. Finally, Barclays dropped their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Thirteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.68.

Match Group Trading Up 0.6 %

MTCH stock traded up $0.19 during midday trading on Wednesday, hitting $31.27. The stock had a trading volume of 506,735 shares, compared to its average volume of 5,188,814. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.18 and a beta of 1.47. The stock has a 50-day simple moving average of $34.01 and a 200 day simple moving average of $34.19. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio is 33.93%.

Match Group declared that its board has initiated a share 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 generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the 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 sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

Large investors have recently bought and sold shares of the company. Starboard Value LP bought a new position in shares of Match Group during the 3rd quarter valued at about $361,605,000. Versor Investments LP lifted its stake in Match Group by 301.7% in the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock valued at $1,824,000 after buying an additional 36,200 shares in the last quarter. Paloma Partners Management Co boosted its holdings in shares of Match Group by 510.3% in the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock valued at $2,463,000 after buying an additional 54,422 shares during the period. Aviance Capital Partners LLC bought a new stake in shares of Match Group during the third quarter worth $2,170,000. Finally, Mawer Investment Management Ltd. raised its holdings in shares of Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after acquiring an additional 267,890 shares during the period. 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.