Match Group (NASDAQ:MTCH) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Match Group (NASDAQ:MTCH) to a hold rating in a report published on Monday,Zacks.com reports.

MTCH has been the topic of a number of other research reports. Wolfe Research set a $43.00 price target on Match Group and gave the stock an “outperform” rating in a research report on Monday, January 5th. Morgan Stanley set a $35.00 price target on Match Group in a research report on Wednesday, February 4th. Raymond James Financial reissued a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. JPMorgan Chase & Co. reduced their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.64.

Match Group Price Performance

NASDAQ:MTCH traded down $0.19 during trading hours on Monday, reaching $32.51. 210,860 shares of the company were exchanged, compared to its average volume of 5,217,172. The company has a market capitalization of $7.56 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.51 and a beta of 1.30. Match Group has a 1-year low of $26.80 and a 1-year high of $39.20. The business has a 50 day moving average of $31.01 and a 200 day moving average of $32.23.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). The company had revenue of $878.01 million for the quarter, compared to analyst estimates of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. As a group, equities research analysts anticipate that Match Group will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio (DPR) is 31.93%.

Institutional Investors Weigh In On Match Group

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after purchasing an additional 2,461,025 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Match Group by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after purchasing an additional 162,330 shares in the last quarter. Starboard Value LP boosted its holdings in shares of Match Group by 2.9% in the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after purchasing an additional 325,000 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Match Group by 9.8% in the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after purchasing an additional 872,524 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Match Group by 32.8% in the 4th quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock valued at $261,692,000 after purchasing an additional 2,011,970 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.