Match Group (NASDAQ:MTCH) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research report released on Saturday morning.

Other research analysts have also recently issued research reports about the company. Evercore ISI dropped their price target on Match Group from $35.00 to $32.00 and set an “in-line” rating on the stock in a report on Monday, May 12th. HSBC lowered Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Stifel Nicolaus decreased their price target on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. UBS Group cut their price objective on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, Citigroup decreased their target price on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.91.

Match Group Price Performance

NASDAQ MTCH opened at $29.25 on Friday. Match Group has a 12 month low of $26.39 and a 12 month high of $38.84. The company has a market capitalization of $7.33 billion, a P/E ratio of 14.48, a PEG ratio of 0.82 and a beta of 1.42. The company’s 50 day simple moving average is $29.77 and its 200 day simple moving average is $31.80.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.60%. Match Group’s payout ratio is 37.62%.

Insider Buying and Selling

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were acquired at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the acquisition, the chief executive officer now owns 137,478 shares of the company’s stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Match Group

Several institutional investors have recently bought and sold shares of MTCH. NBC Securities Inc. acquired a new position in shares of Match Group during the 1st quarter valued at about $37,000. Canada Post Corp Registered Pension Plan bought a new stake in Match Group during the fourth quarter worth approximately $43,000. SVB Wealth LLC acquired a new position in Match Group during the first quarter valued at approximately $49,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,512 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Match Group in the first quarter worth $54,000. 94.05% of the stock is currently owned by institutional investors.

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.