Match Group, Inc. (NASDAQ:MTCH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Match Group, Inc. (NASDAQ:MTCH) have received an average rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $37.68.

A number of analysts have weighed in on MTCH shares. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 price objective (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Bank of America upped their target price on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Finally, StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The shares were 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 directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Several large investors have recently made changes to their positions in MTCH. Cambridge Investment Research Advisors Inc. boosted its holdings in Match Group by 161.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 35,632 shares of the technology company’s stock worth $1,083,000 after acquiring an additional 21,980 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Match Group in the 2nd quarter worth $61,000. Commonwealth Equity Services LLC grew its position in Match Group by 11.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 9,993 shares of the technology company’s stock valued at $304,000 after purchasing an additional 1,046 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in Match Group during the 2nd quarter valued at $638,000. Finally, Guidance Capital Inc. raised its holdings in Match Group by 12.7% during the second quarter. Guidance Capital Inc. now owns 26,078 shares of the technology company’s stock worth $792,000 after buying an additional 2,941 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Down 0.8 %

MTCH stock opened at $33.17 on Friday. The stock has a market capitalization of $8.33 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The firm has a 50-day moving average price of $33.33 and a 200-day moving average price of $34.26. Match Group has a 12 month low of $27.66 and a 12 month high of $42.42.

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

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.29%. Match Group’s payout ratio is 33.93%.

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.