Match Group (NASDAQ:MTCH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other research analysts have also issued reports on MTCH. Morgan Stanley lowered their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday. Stifel Nicolaus decreased their target price on Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Barclays dropped their price target on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price target on Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Match Group presently has an average rating of “Hold” and an average price target of $37.58.

Match Group Price Performance

NASDAQ MTCH opened at $29.02 on Thursday. The company has a 50 day simple moving average of $31.17 and a 200-day simple moving average of $33.01. Match Group has a 52-week low of $26.39 and a 52-week high of $38.84. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) 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%. On average, analysts predict that Match Group will post 2.44 EPS for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Several large investors have recently modified their holdings of MTCH. NBC Securities Inc. bought a new position in Match Group in the first quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group during the 4th quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake 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 valued at $50,000 after buying an additional 1,512 shares in the last quarter. Assetmark Inc. grew its position in Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares during the last quarter. Finally, CX Institutional acquired a new position in Match Group during the first quarter worth about $103,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.