Match Group Inc. (NASDAQ:MTCH) Receives $36.00 Consensus Price Target from Analysts

Shares of Match Group Inc. (NASDAQ:MTCH) have received an average recommendation of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $36.00.

A number of equities analysts recently issued reports on MTCH shares. Evercore ISI dropped their price objective on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, November 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Match Group in a research note on Wednesday, December 10th. Wells Fargo & Company reduced their price target on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Truist Financial lowered their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Finally, Morgan Stanley dropped their target price on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff bought 14,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the transaction, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently made changes to their positions in MTCH. Harbor Capital Advisors Inc. bought a new position in Match Group during the 3rd quarter worth about $25,000. Root Financial Partners LLC purchased a new stake in shares of Match Group in the 3rd quarter worth approximately $27,000. Employees Retirement System of Texas bought a new position in shares of Match Group during the second quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in Match Group during the third quarter valued at approximately $28,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after buying an additional 362 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $32.07 on Thursday. The firm has a market capitalization of $7.57 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. The business has a 50 day simple moving average of $32.76 and a two-hundred day simple moving average of $34.10. Match Group has a 1 year low of $26.39 and a 1 year high of $39.20.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 35.51%.

About Match Group

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.