Match Group (NASDAQ:MTCH) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Match Group (NASDAQ:MTCH) in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a $33.00 target price on the technology company’s stock, down from their previous target price of $40.00.

Several other equities research analysts have also issued reports on MTCH. Susquehanna lowered their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Bank of America raised their target price on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.68.

Match Group Price Performance

Shares of MTCH traded up $0.19 during mid-day trading on Wednesday, hitting $31.27. 506,735 shares of the company’s stock were exchanged, compared to its average volume of 5,188,814. The company has a 50-day simple moving average of $34.01 and a 200 day simple moving average of $34.19. The company has a market cap of $7.85 billion, a PE ratio of 13.96, a P/E/G ratio of 1.18 and a beta of 1.47. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42.

Match Group declared that its Board of Directors has initiated a stock buyback 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 buy up to 19% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, January 6th. Match Group’s payout ratio is presently 33.93%.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred 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 $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTCH. Sumitomo Life Insurance Co. raised 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 worth $403,000 after acquiring an additional 297 shares during the last quarter. Fulton Bank N.A. lifted its holdings in 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 buying an additional 299 shares during the period. Prestige Wealth Management Group LLC boosted its position in Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after acquiring an additional 357 shares during the last quarter. Empirical Finance LLC boosted its position in Match Group by 1.5% during the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after acquiring an additional 384 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 455 shares during the period. 94.05% of the stock is currently 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.