Match Group (NASDAQ:MTCH) Upgraded at Evercore

Evercore upgraded shares of Match Group (NASDAQ:MTCH) from a cautious rating to an outperform rating in a report issued on Monday, Marketbeat reports. They currently have $53.00 price target on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Susquehanna reissued a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Zacks Research downgraded Match Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. JPMorgan Chase & Co. assumed coverage on Match Group in a report on Monday, August 24th. They set a “neutral” rating and a $43.00 price objective for the company. Finally, Weiss Ratings raised Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and a consensus target price of $43.85.

Match Group Price Performance

Shares of MTCH stock opened at $46.30 on Monday. The firm has a market cap of $10.63 billion, a P/E ratio of 15.51, a PEG ratio of 0.69 and a beta of 1.43. Match Group has a 1-year low of $28.81 and a 1-year high of $46.67. The firm’s 50-day simple moving average is $41.58 and its 200-day simple moving average is $38.27.

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

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, October 5th. Match Group’s payout ratio is currently 28.27%.

Insider Transactions at Match Group

In related news, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the sale, the director owned 26,839 shares of the company’s stock, valued at approximately $1,138,778.77. This represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Philip D. Eigenmann sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the completion of the transaction, the chief accounting officer owned 19,389 shares in the company, valued at $808,521.30. The trade was a 43.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,291 shares of company stock worth $976,478 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently bought and sold shares of MTCH. BlackRock Inc. acquired a new stake in shares of Match Group in the second quarter worth $1,087,055,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Match Group in the 2nd quarter valued at $154,811,000. Renaissance Technologies LLC lifted its holdings in shares of Match Group by 196.6% during the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock valued at $98,099,000 after acquiring an additional 2,117,414 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Match Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,183,576 shares of the technology company’s stock valued at $97,761,000 after acquiring an additional 92,364 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Match Group by 11.8% during 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. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Company Profile

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.