Insider Buying: Match Group (NASDAQ:MTCH) Director Purchases 2,500 Shares of Company Stock

Match Group Inc. (NASDAQ:MTCH) Director Glenn Schiffman bought 2,500 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were acquired at an average cost of $38.83 per share, with a total value of $97,075.00. Following the purchase, the director owned 72,059 shares of the company’s stock, valued at $2,798,050.97. The trade was 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 hyperlink.

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

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

Match Group Stock Performance

Shares of Match Group stock traded up $0.27 during trading hours on Monday, hitting $39.30. The company’s stock had a trading volume of 4,113,270 shares, compared to its average volume of 4,029,576. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.59 and a beta of 1.47. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $46.67. The firm has a fifty day moving average of $42.07 and a 200-day moving average of $36.69.

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

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 21st. Shareholders of record on Wednesday, January 6th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, January 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. Match Group’s dividend payout ratio (DPR) is currently 27.21%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTCH. Barclays upped their price objective on shares of Match Group from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Susquehanna lifted their target price on shares of Match Group from $45.00 to $50.00 and gave the company a “positive” rating in a report on Tuesday, November 3rd. BTIG Research reissued a “neutral” rating on shares of Match Group in a research report on Tuesday, November 3rd. Finally, UBS Group boosted their target price on Match Group from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.64.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MTCH. BlackRock Inc. acquired a new stake in shares of Match Group in the 2nd quarter worth $1,087,055,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Match Group during the second quarter worth about $154,811,000. Bank of New York Mellon Corp acquired a new position in shares of Match Group during the second quarter worth about $100,796,000. Renaissance Technologies LLC increased its stake in shares of Match Group by 196.6% during the first quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after acquiring an additional 2,117,414 shares during the period. Finally, Bank of America Corp DE purchased a new position in Match Group during the second quarter worth about $77,859,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

Match Group traces its roots to Match.com, which launched in 1995.