Match Group (NASDAQ:MTCH) Given New $29.00 Price Target at JPMorgan Chase & Co.

Match Group (NASDAQ:MTCH - Free Report) had its target price reduced by JPMorgan Chase & Co. from $33.00 to $29.00 in a report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company's stock.

MTCH has been the topic of a number of other reports. StockNews.com upgraded Match Group from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Barclays lowered their price target on Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Bank of America cut their price objective on Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Stifel Nicolaus decreased their target price on shares of Match Group from $36.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price target on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Match Group presently has an average rating of "Hold" and a consensus price target of $36.58.

Match Group Trading Down 0.4 %

NASDAQ:MTCH traded down $0.12 during trading hours on Tuesday, hitting $30.07. The company had a trading volume of 2,734,914 shares, compared to its average volume of 4,945,981. Match Group has a 1 year low of $26.39 and a 1 year high of $38.84. The company has a market cap of $7.53 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.82 and a beta of 1.49. The company has a 50-day moving average of $30.60 and a 200 day moving average of $32.65.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data 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 net margin of 15.84% and a negative return on equity of 574.22%. On average, analysts forecast that Match Group will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.53%. Match Group's dividend payout ratio (DPR) is currently 37.62%.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Nisa Investment Advisors LLC grew its position in shares of Match Group by 94.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company's stock valued at $1,947,000 after buying an additional 28,884 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Match Group by 17.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after purchasing an additional 939,078 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Match Group by 56.8% in the 4th quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company's stock valued at $78,733,000 after purchasing an additional 866,026 shares during the period. Penn Davis Mcfarland Inc. increased its position in Match Group by 1.8% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company's stock worth $15,665,000 after buying an additional 8,414 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock valued at $87,267,000 after buying an additional 69,947 shares during the last quarter. 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.