Match Group (NASDAQ:MTCH) Director Sells $201,157.60 in Stock

Match Group Inc. (NASDAQ:MTCH) Director Stephen Bailey sold 4,760 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total transaction of $201,157.60. Following the transaction, the director owned 11,742 shares in the company, valued at $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Match Group Stock Performance

Shares of Match Group stock opened at $41.58 on Monday. The company has a 50-day moving average of $38.61 and a two-hundred day moving average of $35.29. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $42.49. The stock has a market cap of $9.54 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30.

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

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be given a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Match Group’s dividend payout ratio (DPR) is currently 28.27%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup increased their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen cut Match Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Barclays increased their price objective on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on Match Group in a research report on Wednesday, May 6th. Finally, Truist Financial boosted their target price on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and an average target price of $42.46.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in Match Group during the third quarter worth approximately $28,000. Activest Wealth Management grew its stake in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after buying an additional 848 shares during the period. Whittier Trust Co. grew its stake in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after buying an additional 431 shares during the period. Elevation Wealth Partners LLC increased its holdings in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after buying an additional 884 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after buying an additional 356 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.