Match Group Inc. (NASDAQ:MTCH) Receives $41.07 Consensus Target Price from Brokerages

Shares of Match Group Inc. (NASDAQ:MTCH) have been given an average rating of “Hold” by the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $41.0714.

Several brokerages have recently issued reports on MTCH. Citigroup boosted their price target on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price target on shares of Match Group in a report on Wednesday, May 6th. Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Barclays boosted their price objective on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th.

Match Group Stock Performance

Shares of MTCH opened at $34.57 on Friday. Match Group has a 1 year low of $28.81 and a 1 year high of $39.20. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.55 and a beta of 1.33. The firm has a fifty day moving average of $35.10 and a 200-day moving average of $32.94.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Match Group’s payout ratio is currently 30.53%.

Insider Activity

In other news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the transaction, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently bought and sold shares of MTCH. AQR Capital Management LLC lifted its holdings in Match Group by 1,163.7% in the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after purchasing an additional 5,652,174 shares during the period. Norges Bank acquired a new stake in Match Group in the fourth quarter worth about $112,641,000. Holocene Advisors LP lifted its holdings in Match Group by 2,474.5% in the third quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock worth $96,832,000 after purchasing an additional 2,635,085 shares during the period. State Street Corp lifted its holdings in Match Group by 14.6% in the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Match Group by 196.6% in the first quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after purchasing an additional 2,117,414 shares during the period. Institutional investors and hedge funds 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.