Match Group, Inc. (NASDAQ:MTCH) Receives $37.68 Average PT from Brokerages

Match Group, Inc. (NASDAQ:MTCH) has earned a consensus rating of “Hold” from the twenty-four analysts that are presently covering the company, MarketBeat Ratings reports. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to 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.

MTCH has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus dropped their price target on shares of Match Group from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company dropped their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group restated 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, December 17th.

Match Group Stock Down 3.2 %

Shares of NASDAQ:MTCH opened at $32.77 on Monday. The company has a market cap of $8.23 billion, a PE ratio of 16.22, a P/E/G ratio of 0.82 and a beta of 1.45. The company’s 50-day moving average price is $33.35 and its 200 day moving average price is $34.59. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. As a group, equities analysts anticipate that Match Group will post 2.44 EPS for the current year.

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

Match Group Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC grew its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Match Group during the third quarter valued at approximately $31,000. Canada Post Corp Registered Pension Plan purchased a new position in Match Group during the fourth quarter valued at approximately $43,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group during the third quarter valued at approximately $57,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after acquiring an additional 1,512 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.