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

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

A number of research analysts have issued reports on MTCH shares. Morgan Stanley upped their price target on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. UBS Group cut their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Loop Capital lowered their price target on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler restated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th.

Insider Activity

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of hedge funds have recently modified their holdings of the business. Metis Global Partners LLC boosted its stake in Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after buying an additional 318 shares during the period. Cornerstone Investment Partners LLC lifted its holdings in shares of Match Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock worth $520,000 after acquiring an additional 349 shares during the last quarter. Assetmark Inc. boosted its position in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after purchasing an additional 378 shares during the period. Empirical Finance LLC increased its holdings in Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after purchasing an additional 384 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in Match Group by 1.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock valued at $757,000 after purchasing an additional 415 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Down 1.2 %

Shares of MTCH opened at $30.99 on Friday. The firm has a market cap of $7.76 billion, a PE ratio of 15.34, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The stock has a fifty day moving average price of $32.95 and a 200-day moving average price of $34.05.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 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%. As a group, research analysts forecast that Match Group will post 2.44 EPS for the current year.

Match Group declared that its board has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is currently 37.62%.

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.