Match Group Inc. (NASDAQ:MTCH) Given Average Recommendation of “Moderate Buy” by Brokerages

Match Group Inc. (NASDAQ:MTCH) has been given an average rating of “Moderate Buy” by the sixteen analysts that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $41.5385.

MTCH has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup increased their price objective on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. UBS Group lifted their price objective on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Susquehanna reissued a “positive” rating on shares of Match Group in a report on Wednesday, August 5th.

Match Group Stock Up 1.6%

Shares of NASDAQ MTCH opened at $40.35 on Friday. Match Group has a 52 week low of $28.81 and a 52 week high of $41.40. The business has a 50-day simple moving average of $37.89 and a two-hundred day simple moving average of $34.84. The company has a market cap of $9.26 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.58 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the previous year, the firm earned $0.49 EPS. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Match Group will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s payout ratio is presently 28.27%.

Insider Buying and Selling

In related news, Director Glenn Schiffman purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director directly owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Match Group

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Match Group in the 2nd quarter worth about $1,087,055,000. AQR Capital Management LLC grew its holdings in shares of 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 last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Match Group in the second quarter worth $154,811,000. Norges Bank bought a new stake in Match Group during the 4th quarter valued at $112,641,000. Finally, Bank of New York Mellon Corp purchased a new stake in Match Group during the 2nd quarter valued at $100,796,000. 94.05% of the stock is owned by institutional investors.

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.