Shares of Match Group Inc. (NASDAQ:MTCH) currently hold an average price target of $36.00 according to analysts covering the stock. The consensus recommendation from eighteen brokerages is to “Hold,” with fourteen analysts issuing a hold rating and four recommending a buy.
In recent evaluations, several analysts adjusted their price targets for Match Group. Evercore ISI revised its price objective from $38.00 to $35.00, maintaining an “in-line” rating. Similarly, Wells Fargo & Company lowered its target from $35.00 to $33.00, assigning an “equal weight” rating. Royal Bank of Canada reaffirmed an “outperform” rating with a target price of $37.00. In addition, Truist Financial and Morgan Stanley adjusted their targets to $35.00 and $34.00, respectively.
Institutional Changes and Market Performance
Recent trading activity reveals significant movements among institutional investors. Harbor Capital Advisors Inc. acquired a new position worth approximately $25,000, while Root Financial Partners LLC invested around $27,000 in Match Group during the third quarter. The Employees Retirement System of Texas also initiated a new stake valued at about $28,000.
Currently, institutional investors own 94.05% of Match Group’s stock, reflecting strong institutional confidence in the company.
On Thursday, shares of NASDAQ:MTCH opened at $32.07. The company boasts a market capitalization of $7.57 billion, with a price-to-earnings (PE) ratio of 14.99. Over the last year, the stock has fluctuated between a low of $26.39 and a high of $39.20. The two-hundred day simple moving average currently stands at $34.10.
Dividend Announcement and Financial Outlook
In addition to price evaluations, Match Group recently announced a quarterly dividend of $0.19 per share, set to be paid on January 21, 2024. Shareholders on record as of January 6, 2024 will receive this dividend, which equates to an annualized dividend of $0.76 and a yield of 2.4%. The company’s dividend payout ratio is currently 35.51%.
Match Group, a leading provider of online dating products and services, operates a diverse portfolio of brands including Match.com, Tinder, Hinge, OkCupid, and PlentyOfFish. Since launching with Match.com in 1995, the company has expanded through both organic growth and strategic acquisitions, catering to users seeking various forms of relationships and connections.
As the market continues to evolve, the performance and strategic decisions made by Match Group will be closely monitored by investors and analysts alike.
