Brokerages Set Match Group, Inc. (NASDAQ:MTCH) Target Price at $35.91

Match Group, Inc. (NASDAQ:MTCH - Get Free Report) has earned a consensus rating of "Hold" from the twenty-four ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $35.91.

A number of research analysts have recently commented on MTCH shares. Hsbc Global Res downgraded Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Barclays dropped their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus lowered their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, HSBC lowered Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th.

Match Group Stock Performance

Shares of MTCH traded down $0.40 during mid-day trading on Wednesday, reaching $29.78. The company had a trading volume of 3,022,715 shares, compared to its average volume of 4,896,880. Match Group has a 52 week low of $26.39 and a 52 week high of $38.84. The firm has a 50-day moving average price of $29.51 and a 200 day moving average price of $31.52. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.55%. Match Group's payout ratio is currently 37.62%.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Spencer M. Rascoff purchased 70,885 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now owns 137,478 shares in the company, valued at approximately $3,856,257.90. This represents a 106.45% increase in their position. The disclosure for this purchase can be found here. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in Match Group in the first quarter valued at $37,000. Canada Post Corp Registered Pension Plan bought a new position in Match Group during the fourth quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after acquiring an additional 1,512 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Match Group during the 1st quarter valued at about $49,000. Finally, Summit Securities Group LLC acquired a new stake in Match Group during the first quarter valued at approximately $54,000. Institutional investors own 94.05% of the company's stock.

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.