Stifel Nicolaus Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH - Free Report) had its target price trimmed by Stifel Nicolaus from $36.00 to $35.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a hold rating on the technology company's stock.

Other research analysts also recently issued reports about the stock. UBS Group dropped their price target on Match Group from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. New Street Research downgraded Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Piper Sandler restated an "overweight" rating and set a $40.00 price target on shares of Match Group in a report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Finally, Loop Capital reduced their target price on shares of Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $37.68.

Match Group Price Performance

Shares of MTCH stock traded down $0.17 on Thursday, hitting $33.63. 3,477,734 shares of the company's stock were exchanged, compared to its average volume of 4,347,958. The company has a 50 day moving average of $33.01 and a 200 day moving average of $34.67. The stock has a market cap of $8.44 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its 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%. Sell-side analysts predict that Match Group will post 2.49 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently declared 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 of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.26%. Match Group's dividend payout ratio (DPR) is presently 37.62%.

Match Group declared that its board has authorized a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now owns 12,398 shares of the company's stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company's stock.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently modified their holdings of MTCH. Sumitomo Life Insurance Co. boosted its position in shares of Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company's stock valued at $403,000 after buying an additional 297 shares during the last quarter. Fulton Bank N.A. raised its position in shares of Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company's stock valued at $379,000 after purchasing an additional 299 shares during the period. Metis Global Partners LLC raised its stake in shares of Match Group by 3.0% during the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock valued at $358,000 after purchasing an additional 318 shares during the period. Cornerstone Investment Partners LLC lifted its stake in Match Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock worth $520,000 after purchasing an additional 349 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after acquiring an additional 378 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.