Match Group (NASDAQ:MTCH) Upgraded to “Buy” at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Match Group (NASDAQ:MTCH – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other equities research analysts have also commented on MTCH. JPMorgan Chase & Co. cut their target price on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday. Raymond James Financial restated a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Evercore reduced their price objective on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. Finally, Truist Financial cut their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and a consensus price target of $35.86.

Check Out Our Latest Analysis on MTCH

Match Group Stock Up 2.5%

MTCH stock opened at $31.63 on Friday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.59 and a beta of 1.32. The company’s fifty day simple moving average is $32.27 and its 200 day simple moving average is $33.94. Match Group has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be paid a dividend of $0.20 per share. This is a boost from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. Match Group’s dividend payout ratio (DPR) is presently 31.93%.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff acquired 14,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. This represents a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Match Group

Several large investors have recently added to or reduced their stakes in MTCH. EverSource Wealth Advisors LLC raised its stake in shares of Match Group by 17.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 11,303 shares of the technology company’s stock worth $365,000 after purchasing an additional 1,688 shares during the last quarter. LSV Asset Management raised its position in Match Group by 18.3% in the 4th quarter. LSV Asset Management now owns 5,644,584 shares of the technology company’s stock valued at $182,264,000 after buying an additional 873,804 shares during the last quarter. Evoke Wealth LLC lifted its stake in Match Group by 14.3% during the 4th quarter. Evoke Wealth LLC now owns 6,548 shares of the technology company’s stock valued at $211,000 after acquiring an additional 818 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Match Group by 511.9% during the 4th quarter. Global Retirement Partners LLC now owns 6,468 shares of the technology company’s stock worth $209,000 after acquiring an additional 5,411 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Match Group by 202.6% in the 4th quarter. IFP Advisors Inc now owns 4,959 shares of the technology company’s stock worth $160,000 after acquiring an additional 3,320 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

About Match Group

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Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.

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