Match Group (NASDAQ:MTCH) Lowered to “Hold” Rating by HSBC

HSBC cut shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research note released on Thursday morning, Marketbeat.com reports.

Several other research analysts have also weighed in on MTCH. UBS Group cut their price objective on shares of Match Group from $38.00 to $34.00 and set a “neutral” 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 research note on Monday, December 16th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Finally, Bank of America boosted their price target on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Fifteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.68.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $34.59 on Thursday. The firm’s 50 day moving average price is $32.95 and its 200 day moving average price is $34.66. The firm has a market cap of $8.69 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. Match Group has a 1 year low of $27.66 and a 1 year high of $38.84.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. As a group, equities analysts predict that Match Group will post 2.37 EPS for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.20%. Match Group’s dividend payout ratio is presently 33.93%.

Match Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

Several large investors have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC boosted its holdings in shares of Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Match Group during the third quarter worth approximately $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the 3rd quarter worth $57,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after buying an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC acquired a new position in Match Group during the 3rd quarter valued at about $87,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.