Match Group (NASDAQ:MTCH) Hits New 12-Month High - Should You Buy?

Key Points

• Match Group's stock reached a new 52-week high of $38.85, indicating positive momentum with a recent trading volume of nearly 4.5 million shares.
• Several analyst upgrades have occurred, with Susquehanna raising its price target from $40.00 to $45.00, contributing to a consensus price target of $35.44, suggesting strong growth potential.
• Match Group declared a quarterly dividend of $0.19 per share, reflecting an annualized yield of 2.0%, indicating a commitment to returning value to shareholders.

Match Group Inc. (NASDAQ:MTCH - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $38.85 and last traded at $38.74, with a volume of 4534985 shares traded. The stock had previously closed at $36.42.

Wall Street Analysts Forecast Growth

MTCH has been the subject of a number of research analyst reports. Susquehanna boosted their price target on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Evercore ISI boosted their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Finally, 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 note on Friday, May 9th. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $35.44.

Match Group Stock Performance

The firm has a 50 day moving average of $32.63 and a 200-day moving average of $31.60. The stock has a market capitalization of $9.70 billion, a PE ratio of 19.08, a P/E/G ratio of 0.71 and a beta of 1.36.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.0%. Match Group's dividend payout ratio (DPR) is currently 37.44%.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the transaction, the director directly owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is owned by insiders.

Institutional Trading of Match Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Applied Finance Capital Management LLC lifted its position in shares of Match Group by 5.1% during the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock worth $215,000 after buying an additional 334 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Match Group by 56.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock valued at $31,000 after purchasing an additional 362 shares in the last quarter. Fulton Bank N.A. increased its holdings in Match Group by 3.9% during the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock valued at $321,000 after purchasing an additional 388 shares in the last quarter. Parallel Advisors LLC increased its holdings in Match Group by 18.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock valued at $77,000 after purchasing an additional 390 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board increased its holdings in Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock valued at $757,000 after purchasing an additional 415 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Company Profile

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.

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