Match Group (NASDAQ:MTCH) Director Purchases $109,890.00 in Stock

Match Group Inc. (NASDAQ:MTCH) Director Glenn Schiffman purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the purchase, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Match Group Trading Up 1.8%

NASDAQ MTCH opened at $37.95 on Friday. The stock has a market cap of $8.71 billion, a PE ratio of 13.41, a P/E/G ratio of 0.56 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 stock has a fifty day simple moving average of $37.53 and a 200-day simple moving average of $34.60.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. Research analysts predict that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Match Group’s dividend payout ratio (DPR) is currently 28.27%.

Analyst Ratings Changes

Several equities analysts have recently commented on MTCH shares. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Truist Financial lifted their target price on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Zacks Research raised Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Susquehanna restated a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Finally, Citigroup raised their price target on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One equities research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.54.

Institutional Trading of Match Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Activest Wealth Management boosted its stake in shares of Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC acquired a new position in shares of Match Group in the third quarter valued at approximately $28,000. Whittier Trust Co. increased its stake in Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after buying an additional 431 shares during the period. Parkside Financial Bank & Trust increased its stake in Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after buying an additional 356 shares during the period. Finally, Elevation Wealth Partners LLC lifted its holdings in Match Group by 1,319.4% during the 2nd 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. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Match Group

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

• Positive Sentiment: Zacks upgraded Match Group to Rank #1, or “Strong Buy,” and included MTCH among its top growth stocks. The upgrade may attract additional quantitative and growth-focused buying interest. Best Growth Stocks to Buy for August 14th
• Positive Sentiment: Director Glenn Schiffman purchased 3,000 shares for approximately $109,890, increasing his direct stake by 5.62%. Open-market insider buying can signal confidence in Match Group’s valuation and outlook. Match Group Director Purchases Shares
• Neutral Sentiment: Match Group’s latest quarterly results showed EPS of $0.70 versus the $0.65 consensus estimate, but revenue of $853.1 million missed expectations and declined 1.2% year over year. The mixed performance leaves investors focused on whether growth can reaccelerate.
• Negative Sentiment: Director Schiffman separately sold 20,030 shares for approximately $736,703, representing 27% of his direct holdings. Although the same-day purchase partially offsets the signal, the much larger disposition could weigh on sentiment and suggests caution from at least one insider. Match Group Director Sells Shares

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.