Match Group Inc. (NASDAQ:MTCH) has received an average price target of $36.00 from analysts, reflecting a consensus recommendation of “Hold” from eighteen brokerages currently covering the stock, according to MarketBeat.com. The analysis reveals that fourteen firms rated the stock as a hold, while four analysts issued buy ratings.
Recent reports from several equity analysts highlight adjustments to their price targets for Match Group. On November 5, Evercore ISI lowered its price objective from $38.00 to $35.00, maintaining an “in-line” rating. Similarly, Wells Fargo & Company adjusted its target from $35.00 to $33.00, assigning an “equal weight” rating. On the same day, Truist Financial also revised its target from $37.00 to $35.00 while keeping a “hold” rating.
In another note, the Royal Bank of Canada reaffirmed an “outperform” rating with a target price of $37.00 on December 10. Additionally, Morgan Stanley reduced its target from $35.00 to $34.00, maintaining an “equal weight” rating on October 20.
Institutional Investor Activity
Recent movements among institutional investors indicate a growing interest in Match Group. During the third quarter, Harbor Capital Advisors Inc. initiated a position worth approximately $25,000, while Root Financial Partners LLC purchased shares valued at about $27,000. The Employees Retirement System of Texas acquired a stake valued at around $28,000 in the second quarter.
Furthermore, Advisory Services Network LLC also entered a new position in Match Group during the third quarter, estimated at $28,000. Notably, MassMutual Private Wealth & Trust FSB increased its stake by 56.0%, now holding 1,008 shares valued at $31,000 after acquiring an additional 362 shares in the last quarter. Currently, institutional investors own approximately 94.05% of Match Group’s stock.
Market Performance and Dividend Announcement
As of Thursday, shares of Match Group opened at $32.07. The company has a market capitalization of $7.57 billion, with a price-to-earnings (P/E) ratio of 14.99 and a price-to-earnings-growth (PEG) ratio of 0.60. The stock has recorded a one-year low of $26.39 and a high of $39.20.
In addition, Match Group recently announced a quarterly dividend of $0.19 per share, scheduled for payment on January 21, 2024. Shareholders of record on January 6 will receive this dividend, which represents an annualized dividend of $0.76 and a yield of 2.4%. The ex-dividend date is also set for January 6, and the company’s dividend payout ratio currently stands at 35.51%.
Match Group, Inc. is a prominent provider of online dating services, operating well-known platforms such as Match.com, Tinder, Hinge, OkCupid, and PlentyOfFish. The company has expanded its offerings since launching Match.com in 1995, utilizing both organic growth and strategic acquisitions to enhance its portfolio.
