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

Shares of Match Group Inc. (NASDAQ:MTCH) have received an average rating of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $41.0714.

MTCH has been the topic of several recent research reports. TD Cowen lifted their price objective on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, May 4th. UBS Group lifted their price objective on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, Citigroup lifted their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th.

Insider Activity at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Match Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MTCH. Woodline Partners LP bought a new stake in shares of Match Group during the 1st quarter worth about $662,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after buying an additional 891 shares in the last quarter. First Trust Advisors LP raised its position in shares of Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock worth $20,070,000 after buying an additional 204,472 shares in the last quarter. Amundi raised its position in shares of Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after buying an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new stake in shares of Match Group during the 2nd quarter worth about $298,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Down 1.1%

Shares of NASDAQ:MTCH opened at $35.36 on Wednesday. The company has a market cap of $8.25 billion, a PE ratio of 13.50, a P/E/G ratio of 0.58 and a beta of 1.36. The company’s 50-day moving average price is $33.03 and its 200 day moving average price is $32.47. Match Group has a fifty-two week low of $28.08 and a fifty-two week high of $39.20.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.3%. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

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.