Analysts Set Match Group Inc. (NASDAQ:MTCH) Price Target at $42.46

Match Group Inc. (NASDAQ:MTCHGet Free Report) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $42.4615.

Several equities analysts have commented on MTCH shares. TD Cowen lowered their price objective on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Truist Financial upped their target price on shares of Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Wells Fargo & Company lifted their price target on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th.

Check Out Our Latest Report on MTCH

Match Group Stock Performance

MTCH stock opened at $43.16 on Tuesday. Match Group has a fifty-two week low of $28.81 and a fifty-two week high of $44.94. The business’s 50 day moving average price is $40.18 and its two-hundred day moving average price is $36.57. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.63 and a beta of 1.32.

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

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Match Group’s payout ratio is presently 28.27%.

Insider Transactions at Match Group

In related news, Director Ann Mcdaniel sold 3,531 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total value of $149,820.33. Following the transaction, the director owned 26,839 shares of the company’s stock, valued at approximately $1,138,778.77. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen Bailey sold 4,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the sale, the director owned 11,742 shares of the company’s stock, valued at $496,216.92. This trade represents a 28.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 23,291 shares of company stock valued at $976,478. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC grew its position in shares of Match Group by 21.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,574 shares of the technology company’s stock valued at $555,000 after acquiring an additional 2,603 shares during the period. IPG Investment Advisors LLC purchased a new position in Match Group during the second quarter valued at $1,881,000. Nykredit A S purchased a new position in Match Group during the second quarter valued at $488,000. Allianz Asset Management GmbH bought a new stake in Match Group during the second quarter valued at about $2,459,000. Finally, Corient Private Wealth LP grew its holdings in Match Group by 25.5% during the second quarter. Corient Private Wealth LP now owns 136,480 shares of the technology company’s stock valued at $5,193,000 after purchasing an additional 27,750 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

(Get Free Report)

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.

Further Reading

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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