Analysts Set Match Group, Inc. (NASDAQ:MTCH) PT at $37.68

Shares of Match Group, Inc. (NASDAQ:MTCH) have earned an average recommendation of “Hold” from the twenty-four research firms that are presently covering the company, MarketBeat Ratings reports. Fifteen research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $37.68.

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Bank of America lifted their target price on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price target on shares of Match Group in a research note on Monday, December 9th. Finally, Hsbc Global Res cut Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $30.94 on Friday. The business has a 50-day moving average of $33.02 and a two-hundred day moving average of $34.13. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. Match Group has a 1 year low of $27.66 and a 1 year high of $38.84.

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 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, equities research analysts expect that Match Group will post 2.44 earnings per share for the current year.

Match Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.46%. Match Group’s dividend payout ratio is currently 37.62%.

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of large investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after buying an additional 391,977 shares during the last quarter. Starboard Value LP grew its position in Match Group by 53.4% during the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock valued at $479,429,000 after acquiring an additional 5,100,824 shares during the period. Ameriprise Financial Inc. increased its stake in Match Group by 24.2% during the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock worth $343,427,000 after acquiring an additional 2,042,677 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Match Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Match Group by 25.3% in the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company’s stock worth $190,608,000 after purchasing an additional 1,174,889 shares during the period. Hedge funds and other 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.