Match Group (NASDAQ:MTCH) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

MTCH has been the topic of a number of other research reports. Citigroup lifted their price objective on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Wells Fargo & Company boosted 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. TD Cowen dropped their price objective on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Morgan Stanley set a $40.00 price objective on shares of Match Group in a research report on Wednesday, August 5th. Finally, UBS Group lifted their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.54.

Match Group Trading Down 0.6%

MTCH opened at $36.58 on Tuesday. Match Group has a twelve month low of $28.81 and a twelve month high of $41.40. The firm has a market capitalization of $8.53 billion, a PE ratio of 12.93, a PEG ratio of 0.54 and a beta of 1.30. The firm’s 50-day moving average price is $37.41 and its 200 day moving average price is $34.54.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. During the same quarter in the prior year, the firm earned $0.49 EPS. Match Group’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Match Group will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.2%. Match Group’s dividend payout ratio (DPR) is currently 28.27%.

Institutional Trading of Match Group

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Match Group during the second quarter worth $1,087,055,000. State Street Corp raised its holdings in shares of Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Match Group by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after buying an additional 162,330 shares during the period. Starboard Value LP lifted its stake in Match Group by 2.9% during the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock worth $367,957,000 after acquiring an additional 325,000 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Match Group by 9.8% during the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after acquiring an additional 872,524 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Company Profile

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.