Match Group (NASDAQ:MTCH) Lowered to Neutral Rating by BTIG Research

BTIG Research downgraded shares of Match Group (NASDAQ:MTCH) from a buy rating to a neutral rating in a report released on Tuesday morning, Marketbeat Ratings reports.

Other equities research analysts also recently issued research reports about the stock. Bank of America upped 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. Susquehanna decreased their price target on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Stifel Nicolaus decreased their target price on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Finally, KeyCorp dropped their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Match Group has an average rating of “Moderate Buy” and an average price target of $37.72.

Match Group Price Performance

Shares of Match Group stock opened at $31.69 on Tuesday. Match Group has a 1-year low of $27.66 and a 1-year high of $39.91. The business’s fifty day moving average price is $32.19 and its two-hundred day moving average price is $34.41. The company has a market capitalization of $7.96 billion, a P/E ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.45.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, January 6th. Match Group’s dividend payout ratio is currently 33.93%.

Match Group announced that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Match Group

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTCH. State Street Corp increased its stake in shares of Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after purchasing an additional 391,977 shares during the last quarter. Starboard Value LP acquired a new position in Match Group in the 3rd quarter valued at $361,605,000. Pacer Advisors Inc. raised its holdings in Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after acquiring an additional 2,940,667 shares during the period. FMR LLC lifted its position in Match Group by 10.4% during the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after acquiring an additional 524,144 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Match Group by 56.8% during the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company’s stock valued at $78,733,000 after acquiring an additional 866,026 shares during the period. 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.