Match Group, Inc. (NASDAQ:MTCH) Given Consensus Rating of “Hold” by Brokerages

Match Group, Inc. (NASDAQ:MTCH) has received an average rating of “Hold” from the twenty-four ratings firms that are presently covering the company, 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 1-year price objective among analysts that have issued a report on the stock in the last year is $37.68.

MTCH has been the subject of several analyst reports. Stifel Nicolaus cut their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th.

Match Group Trading Down 2.1 %

Shares of MTCH opened at $30.08 on Friday. The stock’s 50-day moving average price is $33.05 and its two-hundred day moving average price is $34.22. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The company has a market capitalization of $7.53 billion, a PE ratio of 14.89, a PEG ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last released its 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 net margin of 15.84% and a negative return on equity of 574.22%. Equities research analysts predict that Match Group will post 2.44 EPS for the current fiscal year.

Match Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to buy up to 19% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio is presently 37.62%.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Match Group

Several hedge funds have recently modified their holdings of MTCH. Venturi Wealth Management LLC grew its stake in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the third quarter worth approximately $31,000. Canada Post Corp Registered Pension Plan bought a new position in Match Group during the fourth quarter valued at about $43,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Match Group in the 3rd quarter worth approximately $57,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after buying an additional 1,512 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.