Match Group (NASDAQ:MTCH) Director Ann Mcdaniel Sells 3,531 Shares of Stock

Match Group Inc. (NASDAQ:MTCH) Director Ann Mcdaniel sold 3,531 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the completion of the transaction, the director owned 26,839 shares in the company, valued at $1,138,778.77. This represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Match Group Trading Down 0.0%

NASDAQ MTCH opened at $42.43 on Friday. The stock has a 50-day simple moving average of $39.15 and a 200 day simple moving average of $35.59. The company has a market capitalization of $9.74 billion, a PE ratio of 14.99, a P/E/G ratio of 0.62 and a beta of 1.32. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $43.47.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 earnings per share. As a group, sell-side analysts predict that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.9%. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Trending Headlines about Match Group

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Strong post-earnings momentum: Match Group is up 11.2% since its latest earnings report, suggesting investors were encouraged by adjusted earnings that exceeded expectations and improving confidence in the company’s outlook. Revenue was slightly below consensus and declined year over year, but earnings growth and management’s execution appear to be supporting the stock. Why Is Match Group Up Since Last Earnings Report?
• Positive Sentiment: Shares reached a 52-week high: Match Group stock touched $42.51, reflecting sustained buying interest and placing the shares near the top of their recent trading range. The move indicates that market sentiment has improved materially from the stock’s 12-month low. Match Group Stock Hits 52-Week High
• Neutral Sentiment: Tinder product innovation remains a focus: A discussion with Tinder’s product and engineering teams highlighted product velocity and ongoing innovation. The commentary may reinforce expectations for improved user engagement and monetization, but it did not provide specific new financial guidance or quantified near-term results. Match Group Discusses Tinder Product Innovation

Analysts Set New Price Targets

MTCH has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Susquehanna reissued a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Truist Financial increased their price target on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. started coverage on Match Group in a research note on Monday, August 24th. They set a “neutral” rating and a $43.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.46.

Hedge Funds Weigh In On Match Group

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Match Group in the second quarter valued at approximately $1,087,055,000. State Street Corp lifted its position in Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after buying an additional 2,461,025 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Match Group by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the last quarter. Starboard Value LP grew its holdings in shares of Match Group by 2.9% in the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after acquiring an additional 325,000 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Match Group by 9.8% in the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after acquiring an additional 872,524 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.