Match Group (NASDAQ:MTCH) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other research analysts have also commented on MTCH. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Morgan Stanley lowered their target price on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Evercore ISI dropped their price target on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Truist Financial dropped their target price on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, Match Group presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Match Group Trading Down 1.1%

MTCH opened at $34.13 on Friday. The business’s 50 day moving average is $32.93 and its 200-day moving average is $33.75. The stock has a market cap of $8.06 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. Match Group has a twelve month low of $26.39 and a twelve month high of $39.20.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, January 6th. Match Group’s payout ratio is presently 35.51%.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the acquisition, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Match Group

A number of hedge funds have recently bought and sold shares of MTCH. Harbor Capital Advisors Inc. purchased a new position in shares of Match Group in the third quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in Match Group during the 3rd quarter worth approximately $27,000. Employees Retirement System of Texas purchased a new position in Match Group during the 2nd quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Match Group during the 3rd quarter valued at $28,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock valued at $31,000 after purchasing an additional 362 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other 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.