Insider Selling: Match Group (NASDAQ:MTCH) Director Sells 4,760 Shares

Match Group Inc. (NASDAQ:MTCH) Director Stephen Bailey sold 4,760 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the sale, the director directly owned 11,742 shares of the company’s stock, valued at $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Match Group Price Performance

Shares of MTCH stock traded up $0.36 during trading hours on Friday, hitting $41.58. The stock had a trading volume of 2,173,409 shares, compared to its average volume of 4,137,426. The firm has a market capitalization of $9.54 billion, a PE ratio of 14.69, a PEG ratio of 0.62 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $42.49. The stock’s 50 day moving average is $38.49 and its 200 day moving average is $35.22.

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

Match Group Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MTCH shares. Royal Bank Of Canada upped their target price on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Susquehanna restated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Truist Financial increased their price objective on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.46.

Hedge Funds Weigh In On Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Versant Capital Management Inc lifted its holdings in shares of Match Group by 1.9% in the 2nd 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 period. Bessemer Group Inc. boosted its stake in shares of Match Group by 3.1% in the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares in the last quarter. Bollard Group LLC grew its holdings in Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock worth $1,625,000 after acquiring an additional 322 shares during the period. Smartleaf Asset Management LLC grew its holdings in Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after acquiring an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust raised 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 acquiring an additional 356 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Company Profile

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.