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

Shares of Match Group, Inc. (NASDAQ:MTCH) have been given a consensus rating of “Moderate Buy” by the twenty-five analysts that are presently covering the company, MarketBeat.com reports. Thirteen research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $37.72.

Several research analysts recently weighed in on MTCH shares. Evercore ISI reduced their price target on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. New Street Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Loop Capital lowered their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. UBS Group reduced their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $35.18 on Thursday. The firm has a market cap of $8.83 billion, a PE ratio of 15.71, a PEG ratio of 1.00 and a beta of 1.45. Match Group has a one year low of $27.66 and a one year high of $39.91. The firm has a fifty day moving average of $32.54 and a 200 day moving average of $34.62.

Match Group announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th were given a $0.19 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.16%. Match Group’s payout ratio is currently 33.93%.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Match Group by 75.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after acquiring an additional 977,090 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Match Group by 39.7% in the second quarter. Amalgamated Bank now owns 86,424 shares of the technology company’s stock valued at $2,626,000 after purchasing an additional 24,554 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Match Group by 5.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,747 shares of the technology company’s stock worth $463,000 after buying an additional 779 shares during the period. Sei Investments Co. lifted its holdings in Match Group by 70.4% during the 2nd quarter. Sei Investments Co. now owns 84,493 shares of the technology company’s stock worth $2,566,000 after buying an additional 34,922 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Match Group by 7.1% in the 2nd quarter. ProShare Advisors LLC now owns 78,595 shares of the technology company’s stock valued at $2,388,000 after buying an additional 5,178 shares during the period. Hedge funds and other 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.