Match Group, Inc. (NASDAQ:MTCH) Receives Average Rating of “Hold” from Brokerages

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

MTCH has been the subject of several recent analyst reports. Truist Financial lowered their price objective on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus dropped their price objective on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 6th. KeyCorp reduced their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th.

Institutional Investors Weigh In On Match Group

Institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its position in 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Match Group in the third quarter worth $31,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Match Group in the fourth quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Match Group by 30,240.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Match Group during the third quarter valued at $57,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Shares of Match Group stock opened at $32.77 on Monday. Match Group has a one year low of $27.66 and a one year high of $38.84. The business’s 50 day simple moving average is $33.32 and its two-hundred day simple moving average is $34.62. The stock has a market capitalization of $8.23 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Sell-side analysts expect that Match Group will post 2.44 earnings per share for the current fiscal year.

Match Group Announces Dividend

The business also recently disclosed 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. This represents a $0.76 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

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

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.