Match Group (NASDAQ:MTCH) Stock: Insider Glenn Schiffman Purchases 2,500 Shares

Match Group Inc. (NASDAQ:MTCH) Director Glenn Schiffman bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average cost of $38.83 per share, with a total value of $97,075.00. Following the completion of the transaction, the director owned 72,059 shares in the company, valued at approximately $2,798,050.97. This trade represents a 3.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Glenn Schiffman also recently made the following trade(s):

• On Tuesday, August 11th, Glenn Schiffman purchased 3,000 shares of Match Group stock. The shares were purchased at an average price of $36.63 per share, for a total transaction of $109,890.00.

Match Group Stock Up 1.6%

NASDAQ:MTCH opened at $39.94 on Wednesday. The company has a market capitalization of $9.17 billion, a PE ratio of 13.59, a P/E/G ratio of 0.60 and a beta of 1.47. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $46.67. The stock’s 50 day moving average price is $42.01 and its 200 day moving average price is $36.78.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $891.23 million during the quarter, compared to analysts’ expectations of $892.45 million. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, sell-side analysts anticipate that Match Group Inc. will post 3.19 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 21st. Investors of record on Wednesday, January 6th will be given a $0.20 dividend. The ex-dividend date is Wednesday, January 6th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s dividend payout ratio is 27.21%.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Eastern Bank acquired a new stake in shares of Match Group in the 3rd quarter worth approximately $31,000. Elevation Wealth Partners LLC boosted its position in Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after purchasing an additional 884 shares in the last quarter. Fulcrum Asset Management LLP grew its holdings in Match Group by 579.8% in the third quarter. Fulcrum Asset Management LLP now owns 1,754 shares of the technology company’s stock valued at $70,000 after purchasing an additional 1,496 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Match Group in the second quarter valued at $76,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Match Group in the third quarter valued at $118,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MTCH. Truist Financial increased their price target on shares of Match Group from $41.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, November 3rd. TD Cowen lifted their price objective on shares of Match Group from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. JPMorgan Chase & Co. assumed coverage on shares of Match Group in a report on Monday, August 24th. They issued a “neutral” rating and a $43.00 target price for the company. Barclays increased their target price on shares of Match Group from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Finally, Evercore raised Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 price target on the stock in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.64.

About Match Group

Match Group, Inc. is a global provider of online dating products and services. Its portfolio includes Tinder, Hinge, Match, OkCupid, Plenty of Fish, Meetic, and OurTime, among other brands. These services help people meet and build relationships through mobile apps and websites, with features and subscription options that vary by brand and market. The company serves users in countries around the world. Its brands are designed for different audiences and dating preferences, from broad-based platforms to services focused on particular age groups or regions.