Match Group’s (MTCH) “Hold” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of Match Group (NASDAQ:MTCH) in a research report released on Tuesday morning, Marketbeat reports. The firm currently has a $32.00 price objective on the technology company’s stock, down from their previous price objective of $40.00.

MTCH has been the subject of several other reports. KeyCorp cut their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley reduced their price objective on Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Loop Capital cut their target price on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Evercore ISI decreased their price target on Match Group from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Finally, Wells Fargo & Company cut their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Thirteen analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Match Group has an average rating of “Moderate Buy” and an average price target of $37.68.

Match Group Trading Up 1.8 %

Shares of Match Group stock opened at $31.64 on Tuesday. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The stock has a market cap of $7.94 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The company’s 50-day moving average price is $33.91 and its two-hundred day moving average price is $34.17.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued 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 dividend yield of 2.40%. Match Group’s dividend payout ratio is 33.93%.

Match Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the transaction, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Several hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after purchasing an additional 391,977 shares during the last quarter. Starboard Value LP acquired a new stake in shares of Match Group in the third quarter worth $361,605,000. Pacer Advisors Inc. boosted its holdings in shares of Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares during the period. FMR LLC grew its stake in Match Group by 10.4% in the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after buying an additional 524,144 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Match Group by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after acquiring an additional 12,379 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

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.