Match Group (NASDAQ:MTCH) Sets New 12-Month High – Time to Buy?

Match Group Inc. (NASDAQ:MTCH) reached a new 52-week high on Wednesday . The stock traded as high as $40.17 and last traded at $40.11, with a volume of 4403573 shares. The stock had previously closed at $38.34.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Morgan Stanley upped their price objective on Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.29.

Match Group Price Performance

The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 0.64 and a beta of 1.30. The stock has a fifty day moving average of $36.42 and a two-hundred day moving average of $33.67.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The business had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. During the same period last year, the company earned $0.44 EPS. Match Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts forecast that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s dividend payout ratio is presently 30.53%.

Insider Transactions at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Contravisory Investment Management Inc. acquired a new stake in Match Group during the second quarter worth approximately $76,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Match Group by 18.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,080 shares of the technology company’s stock valued at $802,000 after acquiring an additional 3,316 shares during the period. Elevation Wealth Partners LLC grew its holdings in Match Group by 1,319.4% in 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 during the period. PensionDanmark Pensionsforsikringsaktieselskab bought a new stake in Match Group in the second quarter valued at $436,000. Finally, 55 North Private Wealth LLC bought a new position in shares of Match Group during the 2nd quarter worth about $217,000. 94.05% of the stock is owned by institutional investors.

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.