Stephen Bailey Sells 4,760 Shares of Match Group (NASDAQ:MTCH) Stock

Match Group Inc. (NASDAQ:MTCH) Director Stephen Bailey sold 4,760 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the transaction, the director directly owned 11,742 shares of the company’s stock, valued at approximately $496,216.92. This trade represents a 28.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Match Group Stock Up 0.9%

Shares of NASDAQ MTCH opened at $41.58 on Friday. The firm’s 50-day moving average price is $38.61 and its 200-day moving average price is $35.27. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $42.49. The company has a market cap of $9.54 billion, a PE ratio of 14.69, a PEG ratio of 0.61 and a beta of 1.30.

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

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid 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 yield of 1.9%. Match Group’s payout ratio is currently 28.27%.

Institutional Investors Weigh In On Match Group

Hedge funds have recently modified their holdings of the business. Activest Wealth Management raised its holdings in Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC bought a new stake in Match Group during the third quarter valued at about $28,000. Whittier Trust Co. increased its position in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after buying an additional 431 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Match Group by 53.0% in the fourth 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 in the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in shares of Match Group by 1,319.4% in 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 during the period. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. began coverage on Match Group in a research report on Monday, August 24th. They set a “neutral” rating and a $43.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Citigroup raised their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.46.

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.