Match Group (NASDAQ:MTCH) Price Target Cut to $46.00 by Analysts at Barclays

Match Group (NASDAQ:MTCH) had its price objective lowered by Barclays from $52.00 to $46.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Citigroup cut their price target on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Wells Fargo & Company cut their target price on Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of Match Group from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, UBS Group decreased their target price on shares of Match Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.06.

Match Group Price Performance

NASDAQ:MTCH opened at $27.18 on Friday. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50-day moving average of $30.05 and a 200 day moving average of $32.12. The firm has a market cap of $6.81 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Sell-side analysts anticipate that Match Group will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.80%. Match Group’s payout ratio is 37.62%.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in Match Group by 9.0% during the third quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock valued at $10,459,000 after purchasing an additional 22,887 shares in the last quarter. Czech National Bank increased its stake in Match Group by 3.6% during the 4th quarter. Czech National Bank now owns 54,442 shares of the technology company’s stock worth $1,781,000 after buying an additional 1,907 shares in the last quarter. Palliser Capital UK Ltd lifted its position in shares of Match Group by 76.9% in the fourth quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company’s stock valued at $7,641,000 after acquiring an additional 101,563 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Match Group in the fourth quarter worth approximately $240,000. Finally, Merit Financial Group LLC acquired a new position in Match Group in the 4th quarter valued at $227,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.