Truist Financial Cuts Match Group (NASDAQ:MTCH) Price Target to $34.00

Match Group (NASDAQ:MTCH) had its price objective reduced by Truist Financial from $35.00 to $34.00 in a report published on Wednesday morning, MarketBeat.com reports. They currently have a hold rating on the technology company’s stock.

Several other brokerages have also recently weighed in on MTCH. Wells Fargo & Company dropped their price target on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Morgan Stanley boosted their price target on Match Group from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Wolfe Research set a $43.00 price objective on Match Group and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.86.

Match Group Stock Performance

NASDAQ:MTCH opened at $31.63 on Wednesday. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The firm has a market cap of $7.47 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.57 and a beta of 1.32. The business has a 50 day moving average price of $32.27 and a 200-day moving average price of $33.94.

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 given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. This is an increase from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio is currently 31.93%.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average price 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Match Group

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

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.