Match Group, Inc. (NASDAQ:MTCH) Receives $37.72 Average Target Price from Analysts

Shares of Match Group, Inc. (NASDAQ:MTCH) have been assigned an average rating of “Moderate Buy” from the twenty-five research firms that are currently covering the stock, Marketbeat reports. Thirteen 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 12-month price target among brokers that have issued a report on the stock in the last year is $37.72.

Several brokerages recently commented on MTCH. UBS Group reduced 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. Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. KeyCorp cut their price objective 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. 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 report on Thursday, December 12th. Finally, Wells Fargo & Company cut 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 report on Thursday, December 12th.

Match Group Stock Performance

Shares of MTCH stock opened at $34.06 on Thursday. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.00 and a beta of 1.45. The company has a 50-day simple moving average of $32.35 and a 200 day simple moving average of $34.53. Match Group has a 52 week low of $27.66 and a 52 week high of $39.91.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

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

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MTCH. abrdn plc raised its holdings in Match Group by 80.8% in the fourth quarter. abrdn plc now owns 38,634 shares of the technology company’s stock worth $1,270,000 after purchasing an additional 17,261 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Match Group in the fourth quarter valued at approximately $4,090,000. Swedbank AB boosted its position in Match Group by 5.0% in the 4th quarter. Swedbank AB now owns 652,008 shares of the technology company’s stock worth $21,327,000 after purchasing an additional 31,108 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Match Group by 330.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 328,281 shares of the technology company’s stock worth $10,738,000 after purchasing an additional 252,078 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Match Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.