Wall Street Zen cut shares of Match Group (NASDAQ:MTCH – Free Report) from a buy rating to a hold rating in a research report released on Saturday.
MTCH has been the subject of a number of other research reports. Barclays upped their price objective on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Susquehanna restated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. Wells Fargo & Company raised their price objective on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Piper Sandler set a $51.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group currently has an average rating of “Hold” and an average price target of $41.54.
View Our Latest Analysis on Match Group
Match Group Stock Down 1.4%
Match Group (NASDAQ:MTCH – Get Free Report) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.Match Group’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, equities analysts anticipate that Match Group will post 3.11 EPS for the current year.
Match Group Announces Dividend
The firm 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is currently 28.27%.
Institutional Trading of Match Group
Institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Match Group in the 2nd quarter valued at approximately $1,087,055,000. State Street Corp raised its holdings in 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 acquiring an additional 2,461,025 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after acquiring an additional 162,330 shares in the last quarter. Starboard Value LP lifted its position in shares of Match Group by 2.9% during the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock worth $367,957,000 after acquiring an additional 325,000 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock worth $316,422,000 after acquiring an additional 872,524 shares during the period. 94.05% of the stock is currently owned by hedge funds and other 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.
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