Match Group (NASDAQ:MTCH) Director Acquires $109,890.00 in Stock

Key Points

• Match Group director Glenn Schiffman bought 3,000 shares for $109,890, increasing his direct ownership by 5.62% to 56,370 shares.
• Match Group’s latest quarterly results beat EPS expectations at $0.70 versus $0.65, although revenue fell 1.2% year over year and slightly missed estimates. The company also declared a quarterly dividend of $0.20, equivalent to a 2.1% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $41.54, compared with the reported share price of $37.28; institutional investors own 94.05% of the stock.

Match Group Inc. (NASDAQ:MTCH - Get Free Report) Director Glenn Schiffman acquired 3,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Match Group Stock Performance

Shares of MTCH stock traded up $0.70 on Thursday, hitting $37.28. 2,591,908 shares of the company's stock traded hands, compared to its average volume of 4,214,514. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.54 and a beta of 1.30. The company's fifty day simple moving average is $37.46 and its 200 day simple moving average is $34.58. Match Group Inc. has a one year low of $28.81 and a one year high of $41.40.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The firm 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 for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Match Group Inc. will post 3.31 earnings per share 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. Shareholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's dividend payout ratio (DPR) is 28.27%.

Match Group News Roundup

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Zacks upgraded Match Group to its top-ranked Zacks Rank #1 (Strong Buy), citing growing confidence in its earnings prospects. Match Group Moves to Strong Buy
• Positive Sentiment: Match Group was also included on Zacks’ Strong Buy lists for growth, income and value stocks, reinforcing the favorable quantitative view of the shares. Best Growth Stocks to Buy
• Neutral Sentiment: The bullish rating comes despite Match Group’s latest reported revenue declining 1.2% year over year and narrowly missing consensus estimates. However, adjusted earnings exceeded expectations, with EPS of $0.70 versus the $0.65 analyst consensus, providing some support for the improved earnings outlook.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several recent analyst reports. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler set a $51.00 price objective on Match Group in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Royal Bank Of Canada upped their target price on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Finally, TD Cowen dropped their target price on shares of Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Match Group has a consensus rating of "Moderate Buy" and an average target price of $41.54.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Activest Wealth Management grew its holdings in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC purchased a new position in shares of Match Group during the third quarter valued at approximately $28,000. Whittier Trust Co. lifted its holdings in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock valued at $29,000 after purchasing an additional 431 shares during the last quarter. Parkside Financial Bank & Trust boosted 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 purchasing an additional 356 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in shares of Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after purchasing an additional 884 shares in the last quarter. 94.05% of the stock is currently owned by 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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