Match Group (NASDAQ:MTCH - Free Report) had its price target reduced by Wells Fargo & Company from $32.00 to $31.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company's stock.
MTCH has been the subject of several other research reports. UBS Group decreased their target price on Match Group from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. BTIG Research cut shares of Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on shares of Match Group from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Barclays lowered their price objective on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, HSBC cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.63.
Get Our Latest Report on MTCH
Match Group Price Performance
Match Group stock traded up $0.17 during midday trading on Wednesday, hitting $28.65. 2,946,696 shares of the stock were exchanged, compared to its average volume of 4,948,818. Match Group has a 1 year low of $26.39 and a 1 year high of $38.84. The firm has a market cap of $7.17 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.82 and a beta of 1.49. The company has a 50 day moving average price of $31.58 and a two-hundred day moving average price of $33.19.
Match Group (NASDAQ:MTCH - Get Free Report) last announced its 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 574.22% and a net margin of 15.84%. As a group, analysts predict that Match Group will post 2.44 EPS for the current year.
Match Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.65%. Match Group's payout ratio is 37.62%.
Insider Buying and Selling at Match Group
In other Match Group news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Match Group
A number of large investors have recently made changes to their positions in MTCH. Starboard Value LP grew its position in Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after purchasing an additional 5,100,824 shares in the last quarter. Mawer Investment Management Ltd. raised its position in shares of Match Group by 716.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock valued at $171,889,000 after purchasing an additional 4,611,598 shares during the period. Norges Bank bought a new stake in Match Group during the fourth quarter valued at about $112,176,000. Arrowstreet Capital Limited Partnership boosted its holdings in Match Group by 110.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock valued at $183,968,000 after acquiring an additional 2,952,470 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock valued at $343,427,000 after purchasing an additional 2,042,677 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.
About Match Group
(
Get Free Report)
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.
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