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

Shares of Match Group, Inc. (NASDAQ:MTCH) have received a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $37.68.

MTCH has been the subject of several recent research reports. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, Loop Capital decreased their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th.

Match Group Stock Performance

Shares of MTCH opened at $33.17 on Friday. The firm has a market capitalization of $8.33 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.18 and a beta of 1.47. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The stock has a 50 day moving average price of $33.33 and a two-hundred day moving average price of $34.26.

Match Group declared that its board has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Insider Activity

In other 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 value of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MTCH. Starboard Value LP bought a new stake in shares of Match Group during the third quarter valued at about $361,605,000. Pacer Advisors Inc. grew its stake in Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after acquiring an additional 2,940,667 shares in the last quarter. Marshall Wace LLP bought a new stake in Match Group during the 2nd quarter worth approximately $49,053,000. Retirement Systems of Alabama lifted its stake in Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after purchasing an additional 1,601,115 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 purchasing an additional 977,090 shares during the period. 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.