Match Group Inc. (NASDAQ:MTCH) Receives Average Recommendation of “Hold” from Brokerages

Shares of Match Group Inc. (NASDAQ:MTCH) have earned a consensus recommendation of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $36.3846.

Several analysts have issued reports on MTCH shares. Truist Financial cut their price target on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley increased their target price on Match Group from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. UBS Group set a $37.00 price objective on Match Group in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th.

Match Group Stock Performance

Shares of MTCH opened at $31.99 on Thursday. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.59 and a beta of 1.33. The firm has a 50 day moving average price of $32.74 and a 200-day moving average price of $34.09.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, January 6th. Match Group’s dividend payout ratio (DPR) is 35.51%.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was purchased at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTCH. CWM LLC raised its holdings in Match Group by 3,228.4% in the third quarter. CWM LLC now owns 266,406 shares of the technology company’s stock worth $9,409,000 after buying an additional 258,402 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Match Group by 71.2% during the second quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock valued at $965,000 after acquiring an additional 12,987 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Match Group by 12.9% during the second quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock valued at $2,780,000 after acquiring an additional 10,269 shares in the last quarter. Meritage Portfolio Management purchased a new position in Match Group in the 2nd quarter worth approximately $693,000. Finally, Patton Fund Management Inc. bought a new position in Match Group in the 2nd quarter valued at approximately $226,000. Institutional investors own 94.05% of the company’s stock.

About Match Group

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.