Match Group (NASDAQ:MTCH) Downgraded by New Street Research to "Neutral"

New Street Research cut shares of Match Group (NASDAQ:MTCH - Free Report) from a buy rating to a neutral rating in a report issued on Monday, Marketbeat reports.

MTCH has been the subject of several other reports. Barclays lowered their price objective on Match Group from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. KeyCorp cut their price objective on shares of Match Group from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Evercore ISI cut their price target on shares of Match Group from $37.00 to $35.00 and set an "outperform" rating for the company in a report on Friday. StockNews.com lowered shares of Match Group from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Loop Capital decreased their price objective on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday. Eleven 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 a consensus rating of "Moderate Buy" and a consensus price target of $39.06.

Match Group Stock Up 2.9 %

MTCH traded up $0.91 during trading on Monday, reaching $32.36. 7,222,002 shares of the stock traded hands, compared to its average volume of 5,215,257. The stock has a market capitalization of $8.13 billion, a PE ratio of 14.60, a P/E/G ratio of 1.18 and a beta of 1.47. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42. The stock's 50-day moving average is $34.35 and its 200 day moving average is $34.19.

Match Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.35%. Match Group's dividend payout ratio is presently 33.93%.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business's stock in a transaction on Friday, November 22nd. The shares were 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 in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company's stock.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Starboard Value LP purchased a new position in Match Group in the third quarter worth about $361,605,000. Versor Investments LP boosted its holdings in shares of Match Group by 301.7% in the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company's stock worth $1,824,000 after purchasing an additional 36,200 shares during the period. Paloma Partners Management Co increased its position in shares of Match Group by 510.3% during the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company's stock valued at $2,463,000 after purchasing an additional 54,422 shares during the last quarter. Aviance Capital Partners LLC bought a new stake in Match Group in the third quarter worth $2,170,000. Finally, Mawer Investment Management Ltd. boosted its stake in Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company's stock worth $24,344,000 after buying an additional 267,890 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.