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

Match Group, Inc. (NASDAQ:MTCH - Get Free Report) has been assigned an average rating of "Hold" from the twenty-four brokerages that are currently covering the firm, Marketbeat reports. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.68.

A number of research firms have recently weighed in on MTCH. Evercore ISI lowered shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 target price for the company. in a report on Thursday, February 6th. Piper Sandler reiterated an "overweight" rating and issued a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Royal Bank of Canada restated an "outperform" rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. 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. Finally, BTIG Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on 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 owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.77% of the stock is owned by corporate insiders.

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Institutional Trading of Match Group

Several hedge funds have recently bought and sold shares of MTCH. Venturi Wealth Management LLC lifted its position in shares of 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 buying an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Match Group during the third quarter valued at about $31,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Match Group in the fourth quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after acquiring an additional 1,512 shares during the period. Finally, Northwest & Ethical Investments L.P. bought a new stake in Match Group during the 3rd quarter valued at approximately $57,000. Institutional investors own 94.05% of the company's stock.

Match Group Price Performance

Match Group stock traded up $0.42 during mid-day trading on Friday, hitting $31.36. The company's stock had a trading volume of 2,819,887 shares, compared to its average volume of 4,703,712. The business has a 50 day moving average price of $33.02 and a 200-day moving average price of $34.13. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, equities research analysts expect that Match Group will post 2.44 earnings per share for the current fiscal year.

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

Match Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.42%. Match Group's dividend payout ratio is presently 37.62%.

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.