Gary Swidler Sells 242,209 Shares of Match Group, Inc. (NASDAQ:MTCH) Stock

Match Group, Inc. (NASDAQ:MTCH) President Gary Swidler sold 242,209 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Match Group Stock Up 4.1 %

Shares of NASDAQ:MTCH opened at $32.62 on Monday. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company has a 50 day moving average of $33.18 and a two-hundred day moving average of $34.34. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. On average, equities analysts anticipate that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Match Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group reissued a “hold” rating and issued a $32.00 target price (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Morgan Stanley raised their target price on shares of Match Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. New Street Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. Barclays lowered their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, HSBC lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.68.

Institutional Investors Weigh In On Match Group

A number of hedge funds have recently bought and sold shares of MTCH. State Street Corp raised its position in shares of Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock valued at $668,732,000 after purchasing an additional 391,977 shares in the last quarter. Starboard Value LP increased its stake in shares of Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock worth $479,429,000 after buying an additional 5,100,824 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock worth $343,427,000 after buying an additional 2,042,677 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after acquiring an additional 939,078 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Match Group by 25.3% during the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company’s stock valued at $190,608,000 after acquiring an additional 1,174,889 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.