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

BTIG Research downgraded shares of Match Group (NASDAQ:MTCH) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other analysts have also recently issued reports on the company. UBS Group lowered their price objective on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price target on shares of Match Group in a report on Monday, December 9th. KeyCorp reduced their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Evercore ISI lowered their target price on shares of Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Finally, Barclays cut their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.72.

Match Group Stock Up 1.7 %

MTCH stock opened at $31.69 on Tuesday. Match Group has a twelve month low of $27.66 and a twelve month high of $39.91. The company has a market cap of $7.96 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. The business’s 50-day simple moving average is $32.19 and its 200 day simple moving average is $34.41.

Match Group declared that its board has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.40%. Match Group’s dividend payout ratio (DPR) is currently 33.93%.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC grew its position in shares of Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. bought a new position in Match Group in the third quarter valued at approximately $31,000. Quarry LP grew its holdings in Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after acquiring an additional 461 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group during the 3rd quarter valued at $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,500 shares during the period. 94.05% of the stock is owned by institutional investors.

Match Group Company Profile

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.