Match Group (NASDAQ:MTCH) CAO Philip Eigenmann Sells 15,000 Shares of Stock

Key Points

• Match Group CAO Philip Eigenmann sold 15,000 shares at an average price of $41.70, totaling $625,500. His remaining stake fell 43.62% to 19,389 shares.
• Match Group shares rose 0.9% to $41.58, near their 52-week high of $42.49. The company recently reported quarterly EPS of $0.70, beating analyst expectations, though revenue declined 1.2% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.46.

Match Group Inc. (NASDAQ:MTCH - Get Free Report) CAO Philip Eigenmann sold 15,000 shares of Match Group stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $41.70, for a total transaction of $625,500.00. Following the completion of the transaction, the chief accounting officer directly owned 19,389 shares in the company, valued at $808,521.30. This represents a 43.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Match Group Trading Up 0.9%

Shares of NASDAQ MTCH traded up $0.36 during midday trading on Friday, reaching $41.58. The company's stock had a trading volume of 2,173,409 shares, compared to its average volume of 4,137,426. Match Group Inc. has a one year low of $28.81 and a one year high of $42.49. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. The company has a 50 day moving average price of $38.49 and a 200 day moving average price of $35.22.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its 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 firm had revenue of $853.11 million during the quarter, compared to analysts' expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. Research analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Match Group's dividend payout ratio (DPR) is currently 28.27%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. Weiss Ratings raised Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Morgan Stanley set a $40.00 price target on Match Group in a research report on Wednesday, August 5th. TD Cowen decreased their price target on Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Royal Bank Of Canada lifted their price target on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.46.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Versant Capital Management Inc lifted its holdings in shares of Match Group by 1.9% in the second quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company's stock valued at $588,000 after purchasing an additional 289 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Match Group by 3.1% during the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock valued at $317,000 after buying an additional 311 shares in the last quarter. Bollard Group LLC grew its holdings in shares of Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock valued at $1,625,000 after buying an additional 322 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock valued at $133,000 after buying an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $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.

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.

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