Match Group (NASDAQ:MTCH) Given Overweight Rating at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Match Group (NASDAQ:MTCH) in a report published on Thursday morning,Benzinga reports. Piper Sandler currently has a $40.00 price objective on the technology company’s stock.

A number of other brokerages also recently weighed in on MTCH. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Stifel Nicolaus lowered their price objective on shares of Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday. Truist Financial cut their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.06.

Match Group Stock Up 2.8 %

Shares of Match Group stock opened at $31.45 on Thursday. The business has a 50-day moving average price of $34.35 and a 200 day moving average price of $34.16. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The firm has a market cap of $7.90 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.42%.

Match Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares in the company, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Life Insurance Co. grew its stake in shares of Match Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after purchasing an additional 297 shares during the last quarter. Fulton Bank N.A. boosted its holdings in Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after buying an additional 299 shares in the last quarter. Prestige Wealth Management Group LLC grew its position in Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after buying an additional 357 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after acquiring an additional 455 shares during the last quarter. 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.