Match Group (NASDAQ:MTCH) Director Sells 5,141 Shares

Key Points

• Director Melissa Anne Brenner sold 5,141 shares of Match Group at an average price of $35.94, totaling about $184,768. After the sale, she still held 16,218 shares, a 24.07% reduction in ownership.
• MTCH shares rose 3.2% to $36.96 on Friday, with the company valued at $8.60 billion and trading near the upper end of its 52-week range.
• Analysts remain mixed on Match Group: several firms raised price targets, but the overall consensus rating is still “Hold,” with a MarketBeat consensus price target of $41.07.

Match Group Inc. (NASDAQ:MTCH - Get Free Report) Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company's stock, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Match Group Trading Up 3.2%

Shares of NASDAQ:MTCH traded up $1.13 on Friday, hitting $36.96. 3,966,333 shares of the company were exchanged, compared to its average volume of 4,922,229. The firm has a market capitalization of $8.60 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 0.61 and a beta of 1.36. Match Group Inc. has a 1-year low of $26.80 and a 1-year high of $39.20. The stock's 50 day moving average price is $32.77 and its 200 day moving average price is $32.41.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.17). Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The firm had revenue of $878.01 million during the quarter, compared to analysts' expectations of $872.86 million. During the same quarter last year, the business earned $0.59 EPS. The business's revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Match Group Inc. will post 3.05 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, July 7th. Match Group's dividend payout ratio is 30.53%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTCH. Royal Bank Of Canada upped their price objective on shares of Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Match Group from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday. Citigroup upped their price target on shares of Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday. TD Cowen lifted their price objective on Match Group from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Monday. Finally, UBS Group boosted their price objective on Match Group from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $41.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP acquired a new stake in shares of Match Group during the 1st quarter valued at about $662,000. Northwestern Mutual Wealth Management Co. raised its holdings in Match Group by 20.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock worth $162,000 after purchasing an additional 891 shares during the period. First Trust Advisors LP boosted its position in Match Group by 45.9% during the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock worth $20,070,000 after purchasing an additional 204,472 shares in the last quarter. Amundi grew its holdings in Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company's stock valued at $11,637,000 after purchasing an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in Match Group in the second quarter valued at approximately $298,000. 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: Match Group reported first-quarter revenue of $864 million, topping expectations and helping reinforce the view that the business is still growing despite broader dating-app headwinds. Match Group Posts $864 Million Revenue Beat As Tinder Decline Slows
• Positive Sentiment: Investor attention is also centered on management’s Q1 call, which highlighted continued growth in parts of the portfolio alongside efforts to address operating challenges. Match Group Earnings Call Balances Growth And Headwinds
• Positive Sentiment: Wells Fargo raised its view on Match Group with a new $38 price target, suggesting analysts see more upside after the earnings report. Match Group Given New $38.00 Price Target at Wells Fargo & Company
• Neutral Sentiment: Coverage from other outlets noted mixed analyst opinions on Match Group, indicating sentiment remains divided even after the latest results. Analysts’ Opinions Are Mixed on These Communication Services Stocks: Match Group (MTCH) and Bumble (BMBL)
• Neutral Sentiment: Match Group’s CEO also drew attention for reviving a Tinder internship program that attracted more than 30,000 applications, but this is more of a brand and talent story than a direct financial catalyst. Match Group’s CEO revived a shuttered Tinder internship program for Gen Z—and received over 30,000 applications for just 27 spots
• Negative Sentiment: One market note said Match Group underperformed peers on Thursday, showing investors are still weighing the company’s longer-term growth concerns. Match Group Inc. stock underperforms Thursday when compared to competitors

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.

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