Match Group (NASDAQ:MTCH) Downgraded to “Inline” Rating by Evercore ISI

Evercore ISI cut shares of Match Group (NASDAQ:MTCH) from an outperform rating to an inline rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm currently has $35.00 target price on the technology company’s stock.

MTCH has been the subject of several other research reports. Susquehanna decreased their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. Morgan Stanley lifted their price target on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Finally, Barclays lowered their price objective on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Fifteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Stock Up 3.0 %

Shares of Match Group stock opened at $34.59 on Thursday. Match Group has a 52-week low of $27.66 and a 52-week high of $38.84. The company has a market capitalization of $8.69 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.10 and a beta of 1.45. The company has a 50 day moving average of $32.95 and a 200 day moving average of $34.66.

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 negative return on equity of 721.15% and a net margin of 17.86%. As a group, research analysts anticipate that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group declared that its board has initiated a stock repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is 33.93%.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC boosted its stake in shares of Match Group by 617.3% during the third 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 during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Match Group in the 3rd quarter valued at about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the 3rd quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Match Group by 433.5% during 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 during the last quarter. Finally, Solstein Capital LLC purchased a new stake in shares of Match Group during the third quarter worth about $87,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.