Match Group (NASDAQ:MTCH - Free Report) had its price objective lowered by Evercore ISI from $35.00 to $32.00 in a research report released on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the technology company's stock.
Other analysts have also issued reports about the stock. Bank of America lowered their price objective on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Hsbc Global Res lowered Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. UBS Group decreased their price objective on Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Barclays dropped their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley decreased their price target on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $35.91.
Read Our Latest Analysis on MTCH
Match Group Price Performance
Match Group stock traded up $0.61 during mid-day trading on Monday, reaching $29.41. 6,522,173 shares of the company traded hands, compared to its average volume of 4,900,679. Match Group has a 52-week low of $26.39 and a 52-week high of $38.84. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.82 and a beta of 1.42. The firm's 50 day moving average price is $29.87 and its 200 day moving average price is $31.94.
Match Group Announces Dividend
The company 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 of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.58%. Match Group's payout ratio is currently 37.62%.
Insider Transactions at Match Group
In related news, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction on Friday, May 9th. The stock was bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now directly owns 137,478 shares in the company, valued at approximately $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.77% of the company's stock.
Institutional Investors Weigh In On Match Group
A number of hedge funds and other institutional investors have recently bought and sold shares of MTCH. Franklin Resources Inc. lifted its holdings in shares of Match Group by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company's stock valued at $10,459,000 after purchasing an additional 22,887 shares during the last quarter. Czech National Bank boosted its holdings in Match Group by 3.6% in the fourth quarter. Czech National Bank now owns 54,442 shares of the technology company's stock worth $1,781,000 after acquiring an additional 1,907 shares in the last quarter. Palliser Capital UK Ltd grew its stake in shares of Match Group by 76.9% during the fourth quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company's stock worth $7,641,000 after acquiring an additional 101,563 shares during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Match Group during the fourth quarter valued at about $240,000. Finally, Merit Financial Group LLC purchased a new position in shares of Match Group in the 4th quarter valued at approximately $227,000. Hedge funds and other institutional investors own 94.05% of the company's stock.
About Match Group
(
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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.
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