Shares of Match Group Inc. (NASDAQ:MTCH) are currently under the spotlight as analysts have established a consensus price target of $36.00. This average recommendation comes from eighteen brokerages covering the stock, with a predominant emphasis on a “Hold” rating. Fourteen analysts suggest maintaining existing positions, while four recommend buying shares.
Recent reports from various equities research firms reveal a range of price adjustments for Match Group. Evercore ISI recently revised its price target from $38.00 to $35.00, maintaining an “in-line” rating. Meanwhile, Royal Bank of Canada reaffirmed an “outperform” rating with a target price of $37.00, demonstrating confidence in the company’s potential.
On the other hand, Wells Fargo & Company lowered its target from $35.00 to $33.00, aligning with an “equal weight” rating. Similarly, Truist Financial adjusted its target down from $37.00 to $35.00 while maintaining a “Hold” rating. Lastly, Morgan Stanley decreased its price target from $35.00 to $34.00 with an “equal weight” recommendation.
Institutional Investment Changes
Match Group has also seen notable activity from institutional investors. In the third quarter, Harbor Capital Advisors Inc. acquired a new stake valued at approximately $25,000. Root Financial Partners LLC followed suit, purchasing a stake worth around $27,000. Employees Retirement System of Texas also joined the ranks, investing approximately $28,000 in the second quarter.
Furthermore, Advisory Services Network LLC made a new investment in Match Group during the third quarter, also valued at about $28,000. In a significant move, MassMutual Private Wealth & Trust FSB increased its holdings by 56.0%, now owning 1,008 shares worth around $31,000. Currently, institutional investors hold approximately 94.05% of Match Group’s stock.
Price Performance and Dividend Announcement
As of Thursday, shares of Match Group opened at $32.07. The company boasts a market capitalization of $7.57 billion, a price-to-earnings ratio of 14.99, and a price-to-earnings-growth ratio of 0.60. Match Group’s stock has fluctuated over the past year, reaching a low of $26.39 and a high of $39.20.
In addition to its stock performance, Match Group has announced a quarterly dividend, set to be paid on January 21, 2024. Shareholders on record as of January 6, 2024 will receive a dividend of $0.19 per share, translating to an annualized dividend of $0.76 and a yield of 2.4%. The dividend payout ratio currently stands at 35.51%.
Founded in 1995 with the launch of Match.com, Match Group operates a diverse portfolio of online dating services including Tinder, Hinge, OkCupid, and PlentyOfFish. The company continues to grow through a blend of organic development and strategic acquisitions, maintaining its position as a leader in the online dating industry.
