Match Group (NASDAQ:MTCH) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Match Group (NASDAQ:MTCH) in a research note published on Monday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $43.00 price objective on the technology company’s stock.

Several other brokerages have also issued reports on MTCH. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Susquehanna reaffirmed a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Wall Street Zen cut Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company increased their price objective on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Finally, Barclays raised their price objective on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Match Group has an average rating of “Moderate Buy” and an average price target of $42.46.

Match Group Trading Down 0.3%

Shares of MTCH opened at $42.07 on Monday. The firm’s 50-day moving average price is $38.38 and its 200-day moving average price is $35.16. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.62 and a beta of 1.30. Match Group has a 1-year low of $28.81 and a 1-year high of $42.49.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. Match Group’s quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that Match Group will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is 28.27%.

Insider Activity at Match Group

In related news, Director Glenn Schiffman bought 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of hedge funds have recently bought and sold shares of the company. Amundi grew its position in Match Group by 83.0% during the 2nd quarter. Amundi now owns 68,859 shares of the technology company’s stock valued at $2,620,000 after purchasing an additional 31,233 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Match Group in the second quarter worth about $1,910,000. California State Teachers Retirement System lifted its stake in shares of Match Group by 3,575.8% in the second quarter. California State Teachers Retirement System now owns 9,738,022 shares of the technology company’s stock worth $370,532,000 after buying an additional 9,473,103 shares in the last quarter. Greenland Capital Management LP bought a new position in shares of Match Group in the second quarter worth approximately $276,000. Finally, Wedmont Private Capital grew its holdings in shares of Match Group by 29.6% during the second quarter. Wedmont Private Capital now owns 8,881 shares of the technology company’s stock valued at $345,000 after buying an additional 2,030 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.