Brokerages Set Match Group Inc. (NASDAQ:MTCH) Price Target at $35.96

Match Group Inc. (NASDAQ:MTCH) has been given a consensus rating of “Hold” by the twenty-three research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $35.96.

MTCH has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Bank of America reduced their price objective on Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. UBS Group lowered their price objective on Match Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus dropped their target price on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th.

Insider Transactions at Match Group

In other news, CEO Spencer M. Rascoff acquired 70,885 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the acquisition, the chief executive officer owned 137,478 shares of the company’s stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Match Group

Large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Match Group by 56.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after buying an additional 362 shares during the last quarter. NBC Securities Inc. purchased a new position in Match Group in the first quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan acquired a new stake in Match Group during the fourth quarter worth approximately $43,000. SVB Wealth LLC acquired a new stake in Match Group during the 1st quarter worth $49,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted 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 valued at $50,000 after acquiring an additional 1,512 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

MTCH opened at $32.45 on Thursday. The company has a 50 day simple moving average of $30.91 and a two-hundred day simple moving average of $31.34. The firm has a market cap of $8.13 billion, a P/E ratio of 16.06, a PEG ratio of 0.72 and a beta of 1.34. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a $0.19 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.34%. Match Group’s dividend payout ratio is presently 37.62%.

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.