Match Group (NASDAQ:MTCH) Cut to Neutral at BTIG Research

BTIG Research lowered shares of Match Group (NASDAQ:MTCH) from a buy rating to a neutral rating in a research report report published on Tuesday, MarketBeat Ratings reports.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company lowered their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Loop Capital lowered their target price on shares of Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Susquehanna decreased their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Finally, Bank of America raised their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.72.

Match Group Trading Up 2.0 %

NASDAQ MTCH opened at $32.72 on Tuesday. Match Group has a 1-year low of $27.66 and a 1-year high of $39.91. The stock’s 50 day moving average is $32.08 and its two-hundred day moving average is $34.39. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.10 and a beta of 1.45.

Match Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.32%. Match Group’s dividend payout ratio (DPR) is presently 33.93%.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Sumitomo Life Insurance Co. grew its holdings in Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after purchasing an additional 297 shares during the period. Fulton Bank N.A. boosted its stake in shares of Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after acquiring an additional 299 shares during the period. Empirical Finance LLC increased its holdings in shares of Match Group by 1.5% during the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after acquiring an additional 384 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Match Group by 1.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after acquiring an additional 455 shares during the period. Finally, Quarry LP lifted its holdings in Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after purchasing an additional 461 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.