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

Match Group Inc. (NASDAQ:MTCH) has been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.0714.

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price target on Match Group in a report on Wednesday, May 6th. Barclays raised their price target on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd.

Match Group Price Performance

NASDAQ MTCH opened at $34.42 on Friday. The stock has a market capitalization of $8.03 billion, a PE ratio of 13.14, a P/E/G ratio of 0.55 and a beta of 1.33. The business has a 50 day simple moving average of $34.77 and a two-hundred day simple moving average of $32.85. Match Group has a 1-year low of $28.81 and a 1-year high of $39.20.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s payout ratio is 30.53%.

Insider Activity at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its holdings in shares of Match Group by 178.0% in the 1st quarter. NewEdge Advisors LLC now owns 28,588 shares of the technology company’s stock worth $878,000 after purchasing an additional 18,303 shares during the period. Caerus Investment Advisors LLC boosted its holdings in shares of Match Group by 10.8% in the 1st quarter. Caerus Investment Advisors LLC now owns 10,129 shares of the technology company’s stock worth $311,000 after purchasing an additional 986 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Match Group by 76.6% in the 1st quarter. Glenmede Trust Co. NA now owns 72,161 shares of the technology company’s stock worth $2,216,000 after purchasing an additional 31,305 shares during the period. Summitry LLC boosted its holdings in shares of Match Group by 7.0% in the 1st quarter. Summitry LLC now owns 8,369 shares of the technology company’s stock worth $257,000 after purchasing an additional 547 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Match Group by 11.8% in the 1st quarter. Bank of America Corp DE now owns 3,054,114 shares of the technology company’s stock worth $93,792,000 after purchasing an additional 323,006 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.