Match Group’s (MTCH) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Match Group (NASDAQ:MTCH) in a report released on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a $33.00 price objective on the technology company’s stock, down from their prior price objective of $40.00.

Several other research analysts have also recently weighed in on MTCH. KeyCorp decreased their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Wells Fargo & Company dropped their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.68.

Match Group Price Performance

MTCH opened at $33.76 on Wednesday. The business has a 50 day moving average price of $33.83 and a two-hundred day moving average price of $34.19. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

Match Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to buy up to 19% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.25%. Match Group’s dividend payout ratio is presently 33.93%.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.77% of the stock is currently owned by company insiders.

Institutional Trading of Match Group

A number of institutional investors have recently added to or reduced their stakes in MTCH. Sumitomo Life Insurance Co. raised its holdings in shares of Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after purchasing an additional 297 shares in the last quarter. Fulton Bank N.A. increased its position in Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after buying an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC raised its holdings in Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after buying an additional 357 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after buying an additional 384 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 455 shares in the last quarter. 94.05% of the stock is currently 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.