Shares of Match Group Inc. (NASDAQ:MTCH) are currently rated with an average recommendation of “Hold” by analysts, according to MarketBeat.com. The consensus price target set by research analysts is $36.00, reflecting insights from eighteen brokerages that are monitoring the stock. Among these analysts, fourteen have assigned a hold rating, while four have given the stock a buy rating.
Recent reports from various equities analysts indicate a shift in price targets for Match Group. Evercore ISI has revised its price objective from $38.00 to $35.00, maintaining an “in-line” rating as of November 5th. Similarly, Royal Bank of Canada reaffirmed an “outperform” rating with a target price of $37.00 on December 10th. In contrast, Wells Fargo & Company lowered its price target from $35.00 to $33.00, designating an “equal weight” rating on the same date as Evercore’s report. Truist Financial also adjusted its price objective down to $35.00, issuing a hold rating, while Morgan Stanley cut its target from $35.00 to $34.00, maintaining an equal weight rating on October 20th.
Institutional Investors Adjust Positions
Several institutional investors have recently shifted their stakes in Match Group. Harbor Capital Advisors Inc. entered the scene by acquiring a new position valued at approximately $25,000 in the third quarter. Meanwhile, Root Financial Partners LLC and Advisory Services Network LLC each purchased new stakes worth approximately $27,000 and $28,000, respectively, during the same period. Additionally, the Employees Retirement System of Texas acquired a position valued at around $28,000 in the second quarter. Notably, MassMutual Private Wealth & Trust FSB increased its stake by 56.0% in the second quarter, now owning 1,008 shares worth approximately $31,000. Currently, institutional investors hold 94.05% of the company’s stock.
Current Market Performance and Dividend Announcement
On Thursday, shares of Match Group opened at $32.07. The company boasts a market capitalization of $7.57 billion, a price-to-earnings (P/E) ratio of 14.99, and a price-to-earnings-growth (PEG) ratio of 0.60. The stock has shown volatility over the past year, with a low of $26.39 and a high of $39.20.
In addition to its stock performance, Match Group recently announced a quarterly dividend of $0.19 per share, which is scheduled for payment on January 21, 2024. Shareholders of record on January 6 will receive this dividend, translating to an annualized amount of $0.76 and a yield of 2.4%. The ex-dividend date is also set for January 6, and the company currently maintains a dividend payout ratio (DPR) of 35.51%.
About Match Group
Founded in 1995 with the launch of Match.com, Match Group, Inc. (NASDAQ: MTCH) has established itself as a leading provider of online dating products and services. The company operates a diverse portfolio of consumer brands, including Tinder, Hinge, OkCupid, and PlentyOfFish. These platforms cater to users seeking long-term relationships, casual encounters, and social networking opportunities. Match Group continues to expand both organically and through strategic acquisitions, solidifying its position in the digital dating landscape.
