Analysts Set Match Group Inc. (NASDAQ:MTCH) PT at $35.15

Match Group Inc. (NASDAQ:MTCH) has earned an average recommendation of “Hold” from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Fifteen research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $35.1538.

Several analysts have issued reports on MTCH shares. Royal Bank Of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Match Group in a report on Wednesday, December 10th. Evercore ISI dropped their target price on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company cut their price target on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Truist Financial lowered their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff acquired 14,000 shares of Match Group stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $31.84 per share, with a total value of $445,760.00. Following the purchase, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Institutional Trading of Match Group

A number of hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in Match Group in the 3rd quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Match Group during the 3rd quarter valued at $27,000. Employees Retirement System of Texas acquired a new stake in shares of Match Group during the 2nd quarter valued at $28,000. Advisory Services Network LLC purchased a new position in shares of Match Group during the 3rd quarter valued at $28,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after acquiring an additional 362 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Down 1.2%

Shares of Match Group stock opened at $32.22 on Friday. Match Group has a 12-month low of $26.39 and a 12-month high of $39.20. The firm has a market capitalization of $7.61 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 0.72 and a beta of 1.34. The stock’s fifty day moving average is $32.79 and its 200-day moving average is $33.89.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Match Group’s payout ratio is currently 35.51%.

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.