Glenn Schiffman Purchases 3,000 Shares of Match Group (NASDAQ:MTCH) Stock

Match Group Inc. (NASDAQ:MTCH) Director Glenn Schiffman purchased 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the completion of the acquisition, the director directly owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Match Group Price Performance

Match Group stock traded up $0.70 during mid-day trading on Thursday, reaching $37.28. The stock had a trading volume of 2,591,908 shares, compared to its average volume of 4,214,514. Match Group Inc. has a one year low of $28.81 and a one year high of $41.40. The company has a 50-day moving average price of $37.46 and a two-hundred day moving average price of $34.58. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.54 and a beta of 1.30.

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 the consensus estimate of $0.65 by $0.05. The business had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities research analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group’s payout ratio is currently 28.27%.

Key Stories Impacting Match Group

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

• Positive Sentiment: Zacks upgraded Match Group to its top-ranked Zacks Rank #1 (Strong Buy), citing growing confidence in its earnings prospects. Match Group Moves to Strong Buy
• Positive Sentiment: Match Group was also included on Zacks’ Strong Buy lists for growth, income and value stocks, reinforcing the favorable quantitative view of the shares. Best Growth Stocks to Buy
• Neutral Sentiment: The bullish rating comes despite Match Group’s latest reported revenue declining 1.2% year over year and narrowly missing consensus estimates. However, adjusted earnings exceeded expectations, with EPS of $0.70 versus the $0.65 analyst consensus, providing some support for the improved earnings outlook.

Analyst Ratings Changes

MTCH has been the subject of several research analyst reports. Susquehanna reiterated a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. Piper Sandler set a $51.00 price target on shares of Match Group in a report on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Match Group has an average rating of “Moderate Buy” and an average target price of $41.54.

Hedge Funds Weigh In On Match Group

Institutional investors have recently made changes to their positions in the business. Woodline Partners LP purchased a new stake in Match Group during the first quarter valued at approximately $662,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after acquiring an additional 891 shares during the last quarter. First Trust Advisors LP grew its position in shares of Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after acquiring an additional 204,472 shares during the period. Amundi grew its position in shares of Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after acquiring an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in shares of Match Group in the 2nd quarter worth $298,000. Institutional investors 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.