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

Match Group Inc. (NASDAQ:MTCH) Director Glenn Schiffman bought 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Match Group Stock Up 1.9%

MTCH opened at $37.28 on Friday. The company has a market cap of $8.70 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.54 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.40. The company has a 50-day moving average price of $37.46 and a 200 day moving average price of $34.58.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data 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. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company 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 firm posted $0.49 EPS. Match Group’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The company 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 of this dividend is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Match Group’s payout ratio is currently 28.27%.

Hedge Funds Weigh In On Match Group

Several large investors have recently modified their holdings of MTCH. BlackRock Inc. acquired a new stake in shares of Match Group during the 2nd quarter worth about $1,087,055,000. State Street Corp increased its position 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 during the last quarter. Ameriprise Financial Inc. increased 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 valued at $385,590,000 after acquiring an additional 162,330 shares during the last quarter. Starboard Value LP raised its stake in shares of Match Group by 2.9% in the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after acquiring an additional 325,000 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Match Group by 9.8% during 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 during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group News Roundup

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

• Positive Sentiment: Zacks upgraded Match Group to a Rank #1 (Strong Buy), citing improving optimism around the company’s earnings prospects. The upgrade can increase buying interest from quantitative and growth-focused investors. Match Group Moves to Strong Buy: Rationale Behind the Upgrade
• Positive Sentiment: Director Glenn Schiffman purchased 3,000 Match Group shares for approximately $109,890, increasing his direct ownership by 5.62%. The open-market purchase may be viewed as a sign of management confidence in the company’s outlook. SEC Form 4 Insider Purchase
• Positive Sentiment: Match Group was also included in Zacks’ Strong Buy lists for growth, income and value stocks, reinforcing the recent favorable quantitative view of MTCH. Best Value Stocks to Buy

Analysts Set New Price Targets

A number of research analysts have weighed in on MTCH shares. Citigroup raised their price objective on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Truist Financial increased their target price on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Finally, TD Cowen cut their price target on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of “Moderate Buy” and an average target price of $41.54.

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.