Match Group Inc. (NASDAQ:MTCH) Receives $35.91 Average Price Target from Brokerages

Shares of Match Group Inc. (NASDAQ:MTCH) have received an average rating of “Hold” from the twenty-four brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $35.91.

MTCH has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Match Group from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Barclays decreased their price target on Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Stifel Nicolaus decreased their price target on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI reissued a “cautious” rating and issued a $32.00 target price on shares of Match Group in a research report on Wednesday, May 21st. Finally, Bank of America decreased their target price on Match Group from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, April 21st.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of Match Group stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the transaction, the chief executive officer now directly owns 137,478 shares in the company, valued at $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Match Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after buying an additional 69,947 shares during the period. Truist Financial Corp bought a new stake in shares of Match Group during the fourth quarter valued at approximately $250,000. Proficio Capital Partners LLC bought a new stake in Match Group in the fourth quarter worth $704,000. QRG Capital Management Inc. boosted its holdings in Match Group by 34.0% in the first quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company’s stock worth $496,000 after acquiring an additional 4,035 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Match Group in the fourth quarter worth $219,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Price Performance

NASDAQ MTCH opened at $31.57 on Friday. The business has a 50 day simple moving average of $29.99 and a 200 day simple moving average of $31.39. Match Group has a one year low of $26.39 and a one year high of $38.84. The stock has a market capitalization of $7.91 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.71 and a beta of 1.35.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, July 3rd. Match Group’s payout ratio is currently 37.62%.

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.