Match Group, Inc. (NASDAQ:MTCH - Get Free Report)'s share price was up 6.7% on Friday . The company traded as high as $33.19 and last traded at $33.43. Approximately 2,664,090 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 4,987,943 shares. The stock had previously closed at $31.33.
Analyst Ratings Changes
Several brokerages recently issued reports on MTCH. New Street Research lowered Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Loop Capital lowered their target price on shares of Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, December 12th. Stifel Nicolaus cut their price target on shares of Match Group from $36.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. Bank of America lifted their price target on Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus price target of $37.68.
Check Out Our Latest Analysis on Match Group
Match Group Stock Down 2.0 %
The business has a 50-day simple moving average of $33.17 and a 200-day simple moving average of $34.31. The company has a market cap of $7.86 billion, a PE ratio of 15.53, a P/E/G ratio of 0.82 and a beta of 1.45.
Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.
Match Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.
Match Group declared that its board has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Insider Activity
In related news, President Gary Swidler sold 242,209 shares of the stock in a transaction that occurred on 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 completion of the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company's stock.
Hedge Funds Weigh In On Match Group
Several large investors have recently modified their holdings of the business. State Street Corp boosted its stake in Match Group by 2.3% during the third quarter. State Street Corp now owns 17,672,611 shares of the technology company's stock worth $668,732,000 after buying an additional 391,977 shares during the period. Starboard Value LP boosted its position in shares of 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 during the period. Ameriprise Financial Inc. increased its holdings in Match Group by 24.2% in the 4th 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. Pacer Advisors Inc. raised its position in Match Group by 17.0% in the fourth 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 period. Finally, Invesco Ltd. raised its position in Match Group by 25.3% in the fourth quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company's stock valued at $190,608,000 after purchasing an additional 1,174,889 shares during the period. 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.
Further Reading
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