Match Group Inc. (NASDAQ:MTCH) Given Consensus Recommendation of “Hold” by Brokerages

Match Group Inc. (NASDAQ:MTCH) has been given an average recommendation of “Hold” by the sixteen research firms that are covering the firm, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.8571.

Several brokerages recently issued reports on MTCH. JPMorgan Chase & Co. dropped their price objective on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Truist Financial lowered their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, February 4th. TD Cowen cut their price target on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Finally, Morgan Stanley set a $35.00 target price on Match Group in a report on Wednesday, February 4th.

Match Group Stock Performance

Shares of MTCH stock opened at $31.20 on Tuesday. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The stock’s fifty day moving average is $31.10 and its two-hundred day moving average is $32.78. The firm has a market capitalization of $7.26 billion, a P/E ratio of 13.11, a PEG ratio of 0.50 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). The business had revenue of $878.01 million for the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.Match Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. On average, equities analysts forecast that Match Group will post 2.44 earnings per share for the current year.

Match Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, April 7th. Match Group’s payout ratio is currently 31.93%.

Institutional Investors Weigh In On Match Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock valued at $216,791,000 after purchasing an additional 5,652,174 shares during the last quarter. Norges Bank acquired a new stake in shares of Match Group during the 2nd quarter worth approximately $134,429,000. Holocene Advisors LP raised its position in shares of Match Group by 2,474.5% during the 3rd quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock valued at $96,832,000 after buying an additional 2,635,085 shares during the period. State Street Corp raised its position in shares of Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares during the period. Finally, LSV Asset Management lifted its holdings in Match Group by 37.8% in the third quarter. LSV Asset Management now owns 4,770,780 shares of the technology company’s stock valued at $168,504,000 after acquiring an additional 1,307,949 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.