Brokerages Set Match Group, Inc. (NASDAQ:MTCH) Price Target at $37.72

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

A number of equities research analysts have recently weighed in on MTCH shares. Stifel Nicolaus dropped their price target on Match Group from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Loop Capital lowered 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. Finally, Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th.

Match Group Price Performance

Match Group stock opened at $34.99 on Thursday. Match Group has a 1-year low of $27.66 and a 1-year high of $39.91. The business has a fifty day moving average price of $32.35 and a 200-day moving average price of $34.58. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.00 and a beta of 1.45.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Monday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Match Group declared that its board has authorized a share 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 reacquire up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The shares were 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 in the company, valued at $391,900.78. This trade represents 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. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its stake in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth about $31,000. Quarry LP grew its stake in Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after acquiring an additional 461 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in Match Group in the 3rd quarter valued at about $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Match Group by 433.5% in the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.