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

Key Points

• Match Group shares reached a new 52-week high, trading as high as $43.53 and above the average analyst price target of $42.46. MarketBeat rates the stock a “Moderate Buy,” though most analysts maintain Hold ratings.
• The company’s latest quarterly results exceeded expectations on earnings, reporting EPS of $0.70 versus the $0.65 consensus estimate, while revenue of $853.1 million declined 1.2% year over year and fell slightly short of forecasts.
• Match Group announced a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.8% yield. Insiders have sold $976,478 worth of shares over the past three months, while institutional investors own 94.05% of the stock.

Match Group Inc. (NASDAQ:MTCH - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $43.53 and last traded at $43.1980, with a volume of 298793 shares. The stock had previously closed at $42.39.

Analyst Ratings Changes

A number of brokerages have commented on MTCH. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. began coverage on shares of Match Group in a research note on Monday, August 24th. They set a "neutral" rating and a $43.00 price target on the stock. Weiss Ratings raised shares of Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Truist Financial raised their target price on Match Group from $37.00 to $41.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Finally, Susquehanna reiterated a "positive" rating on shares of Match Group in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Match Group presently has an average rating of "Moderate Buy" and an average target price of $42.46.

Match Group Stock Performance

The company has a market cap of $10.02 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.62 and a beta of 1.32. The firm's fifty day moving average is $39.60 and its two-hundred day moving average is $36.06.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The firm had revenue of $853.11 million during the quarter, compared to analysts' expectations of $857.77 million. During the same quarter last year, the business posted $0.49 earnings per share. The firm's revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's payout ratio is 28.27%.

Insider Activity at Match Group

In related news, Director Glenn Schiffman purchased 3,000 shares of Match Group stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the acquisition, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Bailey sold 4,760 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the transaction, the director directly owned 11,742 shares of the company's stock, valued at $496,216.92. This trade represents a 28.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,291 shares of company stock worth $976,478 in the last three months. Insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On Match Group

A number of hedge funds have recently made changes to their positions in MTCH. Advisory Services Network LLC bought a new stake in Match Group in the 3rd quarter worth approximately $28,000. Whittier Trust Co. grew its holdings in shares of Match Group by 91.3% in 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 in the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Match Group by 1,319.4% in the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock valued at $36,000 after purchasing an additional 884 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Match Group by 53.0% in the fourth 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 during the last quarter. Finally, Wexford Capital LP bought a new stake in Match Group in the third quarter worth $43,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Company Profile

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.

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