Hsbc Global Res Downgrades Match Group (NASDAQ:MTCH) to Hold

Hsbc Global Res downgraded shares of Match Group (NASDAQ:MTCH) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on MTCH. Wells Fargo & Company decreased their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. New Street Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Bank of America upped their target price on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, BTIG Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.68.

Match Group Price Performance

MTCH stock opened at $33.80 on Thursday. The company has a market capitalization of $8.49 billion, a PE ratio of 16.73, a P/E/G ratio of 1.14 and a beta of 1.45. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84. The firm’s 50-day moving average is $32.99 and its 200 day moving average is $34.66.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Sell-side analysts forecast that Match Group will post 2.49 EPS for the current fiscal year.

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

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.25%. Match Group’s dividend payout ratio is currently 37.62%.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently bought and sold shares of MTCH. Marathon Trading Investment Management LLC acquired a new stake in Match Group in the 4th quarter valued at about $670,000. Daiwa Securities Group Inc. increased its holdings in shares of Match Group by 5.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 32,834 shares of the technology company’s stock valued at $1,074,000 after purchasing an additional 1,589 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Match Group by 148.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 292,364 shares of the technology company’s stock worth $9,563,000 after buying an additional 174,530 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Match Group during the fourth quarter worth $327,000. Finally, Banco Santander S.A. grew its holdings in Match Group by 50.5% in the 4th quarter. Banco Santander S.A. now owns 26,521 shares of the technology company’s stock valued at $868,000 after buying an additional 8,901 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.