Shares of Match Group Inc. (NASDAQ:MTCH – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $42.69 and last traded at $42.5120, with a volume of 1861802 shares traded. The stock had previously closed at $41.91.
Trending Headlines about Match Group
Here are the key news stories impacting Match Group this week:
- Positive Sentiment: Post-earnings gains: Investors appear encouraged by Match Group’s latest results, particularly earnings per share of $0.70 versus the $0.65 consensus estimate. Full-year earnings are projected at approximately $3.31 per share, supporting the stock’s improving valuation and momentum. Revenue was slightly below expectations and declined 1.2% year over year, but the earnings beat has helped strengthen sentiment. Why Is Match Group Up Since Last Earnings Report?
- Positive Sentiment: Shares near a 52-week high: MTCH recently touched $42.51, reflecting sustained buying interest. Its $9.74 billion market capitalization, price-to-earnings ratio of about 15 and price/earnings-to-growth ratio of 0.62 may be viewed as reasonable if earnings growth continues. Match Group Stock Hits 52-Week High
- Positive Sentiment: Shareholder returns: Match Group announced a quarterly dividend of $0.20, equivalent to $0.80 annually and a yield of approximately 1.9%. The payout ratio is about 28%, leaving room for continued investment while returning capital to shareholders.
- Neutral Sentiment: Tinder innovation: Product and engineering executives discussed faster product development and innovation at Tinder. The update may support expectations for engagement and monetization improvements, but it offered no specific financial guidance. Match Group Discusses Tinder Product Innovation
- Negative Sentiment: Director sale: Director Ann McDaniel sold 3,531 shares for approximately $149,820, reducing her direct ownership by 11.63%. The sale is relatively small compared with Match Group’s market value, but insider selling near a 52-week high could weigh on sentiment. Match Group Director Sells Shares
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MTCH shares. Wells Fargo & Company boosted their target price on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Susquehanna reiterated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. Wall Street Zen cut Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Truist Financial raised their price target on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Finally, TD Cowen cut their price objective on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.46.
Match Group Stock Performance
The firm’s fifty day moving average is $39.15 and its 200-day moving average is $35.59. The company has a market capitalization of $9.74 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.62 and a beta of 1.32.
Match Group (NASDAQ:MTCH – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate 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 business had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts expect that Match Group Inc. will post 3.31 EPS for the current fiscal 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group’s payout ratio is 28.27%.
Insider Buying and Selling at Match Group
In related news, Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the sale, the director directly owned 26,839 shares in the company, valued at $1,138,778.77. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Glenn Schiffman purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the acquisition, the director owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 23,291 shares of company stock worth $976,478 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.
Institutional Trading of Match Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PointState Capital LP acquired a new position in Match Group in the second quarter valued at approximately $41,754,000. Man Group plc acquired a new stake in shares of Match Group during the 2nd quarter worth approximately $23,631,000. Redwood Investment Management LLC acquired a new stake in shares of Match Group during the 2nd quarter worth approximately $2,275,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Match Group in the 2nd quarter valued at $13,180,000. Finally, Principal Financial Group Inc. lifted its position in shares of Match Group by 338.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock valued at $35,124,000 after acquiring an additional 882,821 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.
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.
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