Match Group (NASDAQ:MTCH) Director Stephen Bailey Sells 4,760 Shares

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

Match Group Stock Up 0.9%

Shares of NASDAQ MTCH opened at $41.58 on Friday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $42.49. The firm has a fifty day simple moving average of $38.61 and a 200 day simple moving average of $35.27. The company has a market capitalization of $9.54 billion, a PE ratio of 14.69, a P/E/G ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $857.77 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. Match Group’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts expect that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The firm also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is currently 28.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTCH. BlackRock Inc. acquired a new stake in Match Group in the second quarter valued at approximately $1,087,055,000. State Street Corp increased its holdings in shares of Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after acquiring an additional 2,461,025 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after purchasing an additional 162,330 shares during the period. Starboard Value LP raised its position in shares of Match Group by 2.9% during the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock worth $367,957,000 after purchasing an additional 325,000 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Match Group by 9.8% in the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock worth $316,422,000 after purchasing an additional 872,524 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTCH has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated 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 cut Match Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley set a $40.00 price objective on shares of Match Group in a research report on Wednesday, August 5th. JPMorgan Chase & Co. started coverage on shares of Match Group in a research note on Monday, August 24th. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.46.

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.