JPMorgan Chase & Co. Cuts Match Group (NASDAQ:MTCH) Price Target to $31.00

Match Group (NASDAQ:MTCH) had its price objective lowered by JPMorgan Chase & Co. from $33.00 to $31.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities research analysts also recently commented on MTCH. Evercore lowered their target price on 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. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. 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. Wolfe Research set a $43.00 price objective on shares of Match Group and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.86.

Match Group Trading Up 2.5%

Shares of NASDAQ MTCH opened at $31.63 on Wednesday. The firm’s 50-day moving average price is $32.27 and its 200-day moving average price is $33.94. The firm has a market capitalization of $7.47 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.57 and a beta of 1.32. Match Group has a 1-year low of $26.39 and a 1-year high of $39.20.

Match Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be issued a $0.20 dividend. This is an increase from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, April 7th. Match Group’s dividend payout ratio is currently 31.93%.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff purchased 14,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the acquisition, the chief executive officer owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Match Group

Hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Match Group in the third quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in Match Group in the 3rd quarter valued at $27,000. Employees Retirement System of Texas purchased a new stake in shares of Match Group during the 2nd quarter valued at $28,000. Activest Wealth Management increased its position in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Match Group during the 3rd quarter worth $28,000. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.