Match Group Inc. (NASDAQ:MTCH) Receives $35.44 Consensus Price Target from Brokerages

Shares of Match Group Inc. (NASDAQ:MTCH) have been assigned an average rating of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.4375.

MTCH has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 6th. Susquehanna upped their price target on shares of Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a report on Thursday, August 7th. UBS Group upped their price target on shares of Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped their price target on shares of Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th.

Match Group Stock Performance

MTCH opened at $34.76 on Tuesday. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.38. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The firm’s fifty day moving average is $36.67 and its 200 day moving average is $32.65.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, October 3rd. Match Group’s dividend payout ratio is currently 37.44%.

Insiders Place Their Bets

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director directly owned 21,926 shares in the company, valued at $823,979.08. This represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the transaction, the chief accounting officer owned 23,240 shares in the company, valued at $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,454 shares of company stock worth $907,839 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen LLC acquired a new stake in Match Group in the first quarter valued at approximately $142,281,000. Norges Bank acquired a new stake in Match Group in the second quarter valued at approximately $134,429,000. Invesco Ltd. boosted its stake in Match Group by 64.2% in the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock valued at $298,451,000 after acquiring an additional 3,738,509 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in Match Group by 15,523.3% in the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after acquiring an additional 3,465,877 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Match Group in the first quarter valued at approximately $77,783,000. 94.05% of the stock is currently owned by institutional investors.

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.