Match Group (NASDAQ:MTCH) Price Target Lowered to $35.00 at Stifel Nicolaus

Match Group (NASDAQ:MTCH) had its price target decreased by Stifel Nicolaus from $36.00 to $35.00 in a research report released on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Truist Financial decreased their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective for the company. in a research note on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Fifteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.68.

Match Group Trading Up 3.0 %

Shares of NASDAQ MTCH opened at $34.59 on Thursday. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.10 and a beta of 1.45. Match Group has a one year low of $27.66 and a one year high of $38.84. The business has a fifty day simple moving average of $32.95 and a 200 day simple moving average of $34.66.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. On average, research analysts anticipate that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has approved a stock 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 generally an indication that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.20%. Match Group’s payout ratio is presently 33.93%.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly 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 at this link. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC increased its stake in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. bought a new stake in Match Group in the third quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the period. Finally, Solstein Capital LLC bought a new position in shares of Match Group during the third quarter worth $87,000. Institutional investors own 94.05% of the company’s stock.

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.