Match Group Inc. (NASDAQ:MTCH - Get Free Report) Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total value of $149,820.33. Following the transaction, the director owned 26,839 shares of the company's stock, valued at $1,138,778.77. The trade was a 11.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Match Group Trading Down 0.0%
Match Group stock traded down $0.01 during mid-day trading on Thursday, hitting $42.43. The company had a trading volume of 3,488,596 shares, compared to its average volume of 4,124,411. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $43.47. The company has a market capitalization of $9.74 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.61 and a beta of 1.32. The stock's 50 day moving average price is $39.15 and its two-hundred day moving average price is $35.59.
Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. Equities research analysts anticipate that Match Group Inc. will post 3.31 EPS for the current year.
Match Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group's dividend payout ratio (DPR) is currently 28.27%.
Institutional Investors Weigh In On Match Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Match Group during the 2nd quarter valued at $1,087,055,000. State Street Corp boosted its stake 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 worth $680,826,000 after buying an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock worth $385,590,000 after acquiring an additional 162,330 shares during the period. Starboard Value LP grew its holdings in shares of Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company's stock worth $367,957,000 after acquiring an additional 325,000 shares during the period. Finally, Invesco Ltd. increased its position in Match Group by 9.8% during the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company's stock valued at $316,422,000 after acquiring an additional 872,524 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.
Key Match Group News
Here are the key news stories impacting Match Group this week:
- Positive Sentiment: Strong post-earnings momentum: Match Group is up 11.2% since its latest earnings report, suggesting investors were encouraged by adjusted earnings that exceeded expectations and improving confidence in the company’s outlook. Revenue was slightly below consensus and declined year over year, but earnings growth and management’s execution appear to be supporting the stock. Why Is Match Group Up Since Last Earnings Report?
- Positive Sentiment: Shares reached a 52-week high: Match Group stock touched $42.51, reflecting sustained buying interest and placing the shares near the top of their recent trading range. The move indicates that market sentiment has improved materially from the stock’s 12-month low. Match Group Stock Hits 52-Week High
- Neutral Sentiment: Tinder product innovation remains a focus: A discussion with Tinder’s product and engineering teams highlighted product velocity and ongoing innovation. The commentary may reinforce expectations for improved user engagement and monetization, but it did not provide specific new financial guidance or quantified near-term results. Match Group Discusses Tinder Product Innovation
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. TD Cowen dropped their target price on shares of Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on shares of Match Group in a research report on Monday, August 24th. They set a "neutral" rating and a $43.00 price target for the company. Piper Sandler set a $51.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Citigroup increased their target price on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their target price on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Match Group presently has a consensus rating of "Moderate Buy" and an average price target of $42.46.
Get Our Latest Research Report on Match Group
About Match Group
(
Get Free Report)
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.
Further Reading
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