Match Group, Inc. (NASDAQ:MTCH - Get Free Report) CEO Spencer M. Rascoff bought 70,885 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the transaction, the chief executive officer now directly owns 137,478 shares of the company's stock, valued at $3,856,257.90. This represents a 106.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Match Group Price Performance
Match Group stock traded up $0.77 during midday trading on Monday, hitting $27.95. The company's stock had a trading volume of 1,917,486 shares, compared to its average volume of 4,890,598. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.82 and a beta of 1.42. The company has a 50-day moving average price of $30.05 and a two-hundred day moving average price of $32.04.
Match Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.72%. Match Group's dividend payout ratio (DPR) is currently 37.62%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board boosted its position in Match Group by 119.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 50,818 shares of the technology company's stock worth $1,586,000 after purchasing an additional 27,669 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Match Group by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,765,162 shares of the technology company's stock valued at $86,273,000 after acquiring an additional 97,255 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Match Group during the 1st quarter valued at $351,000. Exencial Wealth Advisors LLC raised its position in shares of Match Group by 7.4% in the 1st quarter. Exencial Wealth Advisors LLC now owns 15,720 shares of the technology company's stock worth $490,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Empower Advisory Group LLC raised its position in Match Group by 3.8% in the 1st quarter. Empower Advisory Group LLC now owns 1,954,312 shares of the technology company's stock worth $60,975,000 after buying an additional 72,353 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on MTCH shares. Wells Fargo & Company cut their price target on Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Bank of America reduced their target price on Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Citigroup lowered their price objective on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday. Stifel Nicolaus reduced their price objective on Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley dropped their price target on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Fifteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.91.
Read Our Latest Research Report on Match Group
About Match Group
(
Get Free Report)
Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Match Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Match Group wasn't on the list.
While Match Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
