Match Group (NASDAQ:MTCH) Given New $30.00 Price Target at Citigroup

Match Group (NASDAQ:MTCH) had its price objective trimmed by Citigroup from $31.00 to $30.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other research firms also recently commented on MTCH. Wells Fargo & Company dropped their price objective on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Hsbc Global Res lowered shares of Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Bank of America decreased their price target on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Morgan Stanley dropped their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Finally, UBS Group reduced their target price on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.06.

Match Group Stock Performance

Shares of MTCH opened at $27.18 on Friday. Match Group has a fifty-two week low of $26.39 and a fifty-two week high of $38.84. The company has a market capitalization 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. The stock has a fifty day moving average of $30.05 and a two-hundred day moving average of $32.12.

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

Match Group Dividend Announcement

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

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently made changes to their positions in MTCH. Ontario Teachers Pension Plan Board raised its holdings in Match Group by 119.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 50,818 shares of the technology company’s stock valued at $1,586,000 after acquiring an additional 27,669 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Match Group by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,765,162 shares of the technology company’s stock valued at $86,273,000 after purchasing an additional 97,255 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Match Group during the first quarter worth about $351,000. Exencial Wealth Advisors LLC grew its stake in Match Group by 7.4% in the first quarter. Exencial Wealth Advisors LLC now owns 15,720 shares of the technology company’s stock worth $490,000 after purchasing an additional 1,086 shares in the last quarter. Finally, Empower Advisory Group LLC raised its stake in Match Group by 3.8% during the first quarter. Empower Advisory Group LLC now owns 1,954,312 shares of the technology company’s stock valued at $60,975,000 after buying an additional 72,353 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Company Profile

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.