Match Group, Inc. (NASDAQ:MTCH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Match Group, Inc. (NASDAQ:MTCH) has been given a consensus rating of “Moderate Buy” by the twenty-four brokerages that are presently covering the company, Marketbeat reports. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $37.68.

A number of equities analysts have recently weighed in on MTCH shares. UBS Group cut their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus reduced their target price on shares of Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Finally, StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at $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 is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

A number of large investors have recently added to or reduced their stakes in MTCH. Everence Capital Management Inc. purchased a new position in Match Group in the 4th quarter valued at about $250,000. Retirement Systems of Alabama boosted its holdings in Match Group by 2,732.1% in the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock valued at $62,804,000 after purchasing an additional 1,601,115 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Match Group by 9.0% in the third 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 during the last quarter. Boyar Asset Management Inc. acquired a new stake in Match Group during the 3rd quarter valued at approximately $1,376,000. Finally, TD Private Client Wealth LLC increased its holdings in 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 purchasing an additional 3,705 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Price Performance

Shares of Match Group stock opened at $32.68 on Friday. The business has a 50 day moving average price of $32.85 and a 200 day moving average price of $34.29. The company has a market capitalization of $8.21 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.18 and a beta of 1.45. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42.

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

Match Group Dividend Announcement

The business 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. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.33%. Match Group’s dividend payout ratio is currently 33.93%.

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.