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

Match Group, Inc. (NASDAQ:MTCH) has been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are presently covering the company, MarketBeat Ratings reports. Twelve 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 12 month target price among analysts that have issued ratings on the stock in the last year is $37.68.

A number of research firms have recently commented on MTCH. UBS Group cut their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Truist Financial dropped their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Barclays decreased their price objective on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Match Group in a report on Thursday, December 12th.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s 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 owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Match Group

Hedge funds have recently made changes to their positions in the stock. Sumitomo Life Insurance Co. lifted its position in Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after purchasing an additional 297 shares during the last quarter. Fulton Bank N.A. lifted its position in Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after buying an additional 299 shares during the period. Prestige Wealth Management Group LLC grew its stake in shares of Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after buying an additional 357 shares during the last quarter. Empirical Finance LLC increased its position in Match Group by 1.5% during the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after buying an additional 455 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Down 0.3 %

NASDAQ:MTCH opened at $32.61 on Friday. The company has a 50 day simple moving average of $32.94 and a two-hundred day simple moving average of $34.27. The company has a market cap of $8.19 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42.

Match Group announced that its Board of Directors has approved a share buyback plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.33%. Match Group’s dividend payout ratio is 33.93%.

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.