UBS Group Cuts Match Group (NASDAQ:MTCH) Price Target to $31.00

Match Group (NASDAQ:MTCH) had its price target decreased by UBS Group from $34.00 to $31.00 in a research note released on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

MTCH has been the subject of a number of other research reports. Stifel Nicolaus dropped their price objective on shares of Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Hsbc Global Res lowered Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays cut their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Fifteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.44.

Match Group Stock Performance

NASDAQ MTCH opened at $30.41 on Tuesday. Match Group has a twelve month low of $26.39 and a twelve month high of $38.84. The stock has a market cap of $7.62 billion, a PE ratio of 15.05, a PEG ratio of 0.82 and a beta of 1.49. The firm has a 50-day simple moving average of $30.32 and a 200 day simple moving average of $32.48.

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

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, April 3rd. Match Group’s dividend payout ratio is 37.62%.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in shares of Match Group in the 1st quarter valued at $37,000. Canada Post Corp Registered Pension Plan acquired a new position in Match Group in the fourth quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC lifted 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 during the period. Mather Group LLC. boosted its holdings in Match Group by 130.1% during the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock worth $79,000 after buying an additional 1,434 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after buying an additional 378 shares during the period. 94.05% of the stock is owned by 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.