Match Group (NASDAQ:MTCH) Hits New 1-Year Low – Should You Sell?

Match Group, Inc. (NASDAQ:MTCH) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $26.57 and last traded at $27.67, with a volume of 40338 shares. The stock had previously closed at $28.74.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MTCH. Wells Fargo & Company dropped their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. UBS Group lowered their target price on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Match Group presently has a consensus rating of “Hold” and an average price target of $37.68.

Match Group Price Performance

The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.82 and a beta of 1.49. The business’s fifty day simple moving average is $32.61 and its 200 day simple moving average is $33.60.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. As a group, equities analysts forecast that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.67%. Match Group’s payout ratio is 37.62%.

Match Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Large investors have recently made changes to their positions in the business. Canada Post Corp Registered Pension Plan purchased a new position in Match Group during the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after buying an additional 1,512 shares during the last quarter. Assetmark Inc. increased its holdings in Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after buying an additional 378 shares during the last quarter. Principal Securities Inc. increased its holdings in Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after buying an additional 2,652 shares during the last quarter. Finally, Quarry LP lifted its stake in Match Group by 126.3% in the third quarter. Quarry LP now owns 2,958 shares of the technology company’s stock valued at $112,000 after acquiring an additional 1,651 shares during 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.