Match Group, Inc. (NASDAQ:MTCH) Receives $37.68 Average Price Target from Analysts

Match Group, Inc. (NASDAQ:MTCH) has been assigned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $37.68.

A number of equities analysts have weighed in on MTCH shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Bank of America upped their price target on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. UBS Group dropped their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Finally, Susquehanna lowered their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its holdings in Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after buying an additional 1,601,115 shares in the last quarter. Franklin Resources Inc. increased its stake in Match Group by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock valued at $10,459,000 after purchasing an additional 22,887 shares in the last quarter. Boyar Asset Management Inc. acquired a new stake in Match Group in the third quarter valued at $1,376,000. TD Private Client Wealth LLC raised its stake in shares of Match Group by 131.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company’s stock worth $247,000 after buying an additional 3,705 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Match Group during the 3rd quarter worth approximately $249,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Trading Down 0.3 %

Shares of MTCH opened at $32.61 on Friday. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42. The business’s fifty day simple moving average is $32.94 and its two-hundred day simple moving average is $34.27. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.47.

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

Match Group Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is currently 33.93%.

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.