Insider Selling: Match Group (NASDAQ:MTCH) CAO Sells $625,500.00 in Stock

Match Group Inc. (NASDAQ:MTCH) CAO Philip Eigenmann sold 15,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the sale, the chief accounting officer owned 19,389 shares of the company’s stock, valued at $808,521.30. The trade was a 43.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Match Group Stock Performance

NASDAQ MTCH opened at $41.58 on Monday. Match Group Inc. has a one year low of $28.81 and a one year high of $42.49. The company’s 50 day moving average price is $38.61 and its 200 day moving average price is $35.29. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same period in the previous year, the company posted $0.49 earnings per share. Match Group’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Match Group Inc. will post 3.31 EPS 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. Investors of record on Monday, October 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio is 28.27%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTCH. Activest Wealth Management grew its stake in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Match Group in the 3rd quarter valued at approximately $28,000. Whittier Trust Co. boosted its stake in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after buying an additional 431 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after buying an additional 356 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its position in shares of Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after buying an additional 884 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

MTCH has been the topic of several research reports. UBS Group raised their price objective on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial increased their target price on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $40.00 target price on Match Group in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. One 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.