Match Group, Inc. (NASDAQ:MTCH) Receives $37.68 Average Target Price from Analysts

Match Group, Inc. (NASDAQ:MTCH) has received a consensus rating of “Hold” from the twenty-four brokerages that are currently covering the stock, Marketbeat reports. Fifteen investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $37.68.

A number of research firms have weighed in on MTCH. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. KeyCorp cut their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Barclays cut their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI downgraded shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price on the stock. in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 target price (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MTCH. Venturi Wealth Management LLC boosted its holdings in shares of Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Match Group in the 3rd quarter valued at about $31,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Match Group in the 4th quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after buying an additional 1,512 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of Match Group in the 3rd quarter valued at about $57,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Down 3.2 %

NASDAQ:MTCH opened at $32.77 on Monday. The company has a market cap of $8.23 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The firm’s 50 day moving average is $33.35 and its two-hundred day moving average is $34.59.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. Research analysts forecast that Match Group will post 2.44 earnings per share for the current fiscal year.

Match Group declared that its board has approved a stock buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio is currently 37.62%.

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.