Match Group (NASDAQ:MTCH) Reaches New 12-Month High - Here's Why

Key Points

• Match Group shares hit a new 52-week high, trading as high as $40.17 after closing previously at $38.34. The move came with heavy volume of more than 4.4 million shares.
• Recent earnings were strong, with Match Group reporting $0.68 EPS versus the $0.61 consensus and revenue of $863.93 million, both topping estimates. Revenue also rose 3.9% year over year.
• Analysts remain mixed but have been raising targets, with the consensus rating at Hold and an average price target of $41.29. The company also announced a quarterly dividend of $0.20 per share, equal to a 2.0% annualized yield.

Shares of Match Group Inc. (NASDAQ:MTCH - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $40.17 and last traded at $40.11, with a volume of 4403573 shares trading hands. The stock had previously closed at $38.34.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTCH shares. Morgan Stanley boosted their target price on shares of Match Group from $35.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Match Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. UBS Group boosted their price objective on Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on Match Group in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $43.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.29.

Match Group Price Performance

The firm has a market cap of $9.36 billion, a P/E ratio of 15.31, a PEG ratio of 0.62 and a beta of 1.30. The stock's 50-day simple moving average is $36.28 and its two-hundred day simple moving average is $33.56.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The firm had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. During the same quarter last year, the business earned $0.44 EPS. The business's revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is presently 30.53%.

Insider Activity

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the business's 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 transaction, the director owned 16,218 shares in the company, valued at $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Match Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its position 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 buying an additional 289 shares during the last quarter. Bessemer Group Inc. grew its stake in Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock worth $317,000 after acquiring an additional 311 shares during the period. True Wealth Design LLC raised its holdings in Match Group by 12.8% in the 4th quarter. True Wealth Design LLC now owns 2,813 shares of the technology company's stock valued at $91,000 after acquiring an additional 320 shares during the last quarter. Bollard Group LLC raised its holdings in Match Group by 0.6% in the 1st quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock valued at $1,625,000 after acquiring an additional 322 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Match Group by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock valued at $133,000 after acquiring an additional 326 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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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