Match Group Inc. (NASDAQ:MTCH) Receives Average Recommendation of “Moderate Buy” from Analysts

Match Group Inc. (NASDAQ:MTCH) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.4615.

Several research firms recently weighed in on MTCH. Barclays lifted their price objective on shares of Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial upped their target price on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $40.00 target price on shares of Match Group in a report on Wednesday, August 5th. JPMorgan Chase & Co. assumed coverage on shares of Match Group in a research report on Monday. They set a “neutral” rating and a $43.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th.

Match Group Stock Down 2.0%

Shares of Match Group stock opened at $41.22 on Friday. The business has a fifty day simple moving average of $38.49 and a 200 day simple moving average of $35.22. The stock has a market cap of $9.46 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. Match Group has a 12 month low of $28.81 and a 12 month high of $42.49.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. Analysts expect that Match Group will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is presently 28.27%.

Insider Activity

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director owned 56,370 shares in the company, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently added to or reduced their stakes in MTCH. Principal Financial Group Inc. grew its position in Match Group by 338.3% in the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock valued at $35,124,000 after purchasing an additional 882,821 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of Match Group by 97.2% in the first quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock valued at $47,574,000 after acquiring an additional 763,764 shares during the last quarter. Bank of America Corp DE raised its holdings in Match Group by 11.8% during the first quarter. Bank of America Corp DE now owns 3,054,114 shares of the technology company’s stock worth $93,792,000 after acquiring an additional 323,006 shares in the last quarter. Callan Family Office LLC bought a new stake in Match Group during the second quarter worth about $1,202,000. Finally, Swedbank AB boosted its position in Match Group by 22.3% during the fourth quarter. Swedbank AB now owns 816,800 shares of the technology company’s stock valued at $26,374,000 after purchasing an additional 148,700 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

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.