Match Group Inc. (NASDAQ:MTCH) Given Average Rating of “Hold” by Brokerages

Match Group Inc. (NASDAQ:MTCH) has earned an average rating of “Hold” from the twenty-four ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $35.91.

Several research firms recently issued reports on MTCH. Stifel Nicolaus reduced their price target on shares of Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Barclays cut their price objective on shares of Match Group from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Wall Street Zen downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Citigroup cut their price objective on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Finally, Wells Fargo & Company cut their price objective on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th.

Insider Activity

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the transaction, the chief executive officer now directly owns 137,478 shares in the company, valued at approximately $3,856,257.90. This represents a 106.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. bought a new stake in shares of Match Group during the first quarter valued at about $37,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group during the fourth quarter valued at about $43,000. SVB Wealth LLC bought a new stake in shares of Match Group during the first quarter valued at about $49,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Match Group by 30,240.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Match Group during the first quarter worth about $54,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Up 1.0%

NASDAQ MTCH opened at $30.59 on Friday. The company has a fifty day simple moving average of $29.90 and a 200 day simple moving average of $31.41. Match Group has a 12-month low of $26.39 and a 12-month high of $38.84. The company has a market cap of $7.66 billion, a P/E ratio of 15.14, a PEG ratio of 0.70 and a beta of 1.35.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, July 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

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.