Match Group (NASDAQ:MTCH) Earns "Hold" Rating from Jefferies Financial Group

Jefferies Financial Group reaffirmed their hold rating on shares of Match Group (NASDAQ:MTCH - Free Report) in a report published on Tuesday, Marketbeat.com reports. Jefferies Financial Group currently has a $32.00 price target on the technology company's stock, down from their previous price target of $40.00.

Several other brokerages also recently issued reports on MTCH. Wells Fargo & Company decreased their price target on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Morgan Stanley lowered their price target on shares of Match Group from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Thursday, December 12th. Barclays reduced their price target on Match Group from $55.00 to $53.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price target on shares of Match Group in a research note on Monday, December 9th. Finally, New Street Research cut shares of Match Group from a "buy" rating to a "neutral" rating in a research note on Monday. Twelve analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.72.

Match Group Price Performance

NASDAQ MTCH traded down $0.78 during trading hours on Tuesday, reaching $31.58. The company's stock had a trading volume of 4,254,056 shares, compared to its average volume of 5,211,306. The firm has a fifty day simple moving average of $34.24 and a 200-day simple moving average of $34.21. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The stock has a market cap of $7.93 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.18 and a beta of 1.47.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, January 6th. Match Group's dividend payout ratio (DPR) is currently 33.93%.

Match Group declared that its Board of Directors has approved 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 reacquire up to 19% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction dated 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 $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.77% of the company's stock.

Institutional Trading of Match Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC lifted 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 valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Match Group in the third quarter worth about $31,000. Quarry LP grew its holdings 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 purchasing an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Match Group during the 3rd quarter valued at about $57,000. Finally, International Assets Investment Management LLC bought a new position in shares of Match Group during the 2nd quarter worth $61,000. Hedge funds and other institutional investors 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.