Match Group (NASDAQ:MTCH) Reaches New 52-Week High – Still a Buy?

Match Group Inc. (NASDAQ:MTCH)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $40.17 and last traded at $40.11, with a volume of 4403573 shares changing hands. The stock had previously closed at $38.34.

Analyst Ratings Changes

Several equities analysts recently weighed in on MTCH shares. UBS Group increased their target price on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Barclays increased their price objective on shares of Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup boosted their target price on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $41.29.

Match Group Stock Performance

The company has a market capitalization of $9.36 billion, a PE ratio of 15.31, a P/E/G ratio of 0.62 and a beta of 1.30. The business has a fifty day moving average price of $36.28 and a 200 day moving average price of $33.56.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $863.93 million during the quarter, compared to analysts’ expectations of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Research analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s payout ratio is 30.53%.

Insider Transactions at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Match Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. purchased a new stake in Match Group during the 2nd quarter worth $76,000. Hennion & Walsh Asset Management Inc. increased its holdings in Match Group by 18.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,080 shares of the technology company’s stock valued at $802,000 after purchasing an additional 3,316 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake 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 purchasing an additional 884 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab purchased a new stake in shares of Match Group in the second quarter worth about $436,000. Finally, 55 North Private Wealth LLC purchased a new stake in shares of Match Group in the second quarter worth about $217,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Match Group

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.