Key Points
- Director Ann McDaniel sold 3,531 Match Group shares for approximately $149,820 at an average price of $42.43, reducing her holdings by 11.63% to 26,839 shares.
- Match Group’s latest quarterly earnings beat expectations, with EPS of $0.70 versus the $0.65 consensus, although revenue declined 1.2% year over year and fell slightly short of estimates.
- The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 1.9% yield; analysts maintain a Moderate Buy consensus with a $42.46 price target.
Match Group Inc. (NASDAQ:MTCH - Get Free Report) Director Ann Mcdaniel sold 3,531 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the sale, the director owned 26,839 shares in the company, valued at approximately $1,138,778.77. This represents a 11.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Match Group Trading Down 0.0%
NASDAQ:MTCH opened at $42.43 on Friday. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $43.47. The firm has a fifty day simple moving average of $39.15 and a 200 day simple moving average of $35.59. The stock has a market capitalization of $9.74 billion, a PE ratio of 14.99, a P/E/G ratio of 0.62 and a beta of 1.32.
Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities analysts predict that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.
Match Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's dividend payout ratio is presently 28.27%.
Key Match Group News
Here are the key news stories impacting Match Group this week:
- Positive Sentiment: Strong post-earnings momentum: Match Group is up 11.2% since its latest earnings report, suggesting investors were encouraged by adjusted earnings that exceeded expectations and improving confidence in the company’s outlook. Revenue was slightly below consensus and declined year over year, but earnings growth and management’s execution appear to be supporting the stock. Why Is Match Group Up Since Last Earnings Report?
- Positive Sentiment: Shares reached a 52-week high: Match Group stock touched $42.51, reflecting sustained buying interest and placing the shares near the top of their recent trading range. The move indicates that market sentiment has improved materially from the stock’s 12-month low. Match Group Stock Hits 52-Week High
- Neutral Sentiment: Tinder product innovation remains a focus: A discussion with Tinder’s product and engineering teams highlighted product velocity and ongoing innovation. The commentary may reinforce expectations for improved user engagement and monetization, but it did not provide specific new financial guidance or quantified near-term results. Match Group Discusses Tinder Product Innovation
Analyst Upgrades and Downgrades
MTCH has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. Zacks Research upgraded Match Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. TD Cowen decreased their target price on Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Morgan Stanley set a $40.00 price target on Match Group in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. initiated coverage on Match Group in a report on Monday, August 24th. They set a "neutral" rating and a $43.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Match Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.46.
Get Our Latest Analysis on Match Group
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Woodline Partners LP bought a new position in shares of Match Group during the first quarter worth approximately $662,000. Northwestern Mutual Wealth Management Co. grew its holdings in Match Group by 20.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock valued at $162,000 after buying an additional 891 shares in the last quarter. First Trust Advisors LP grew its holdings in Match Group by 45.9% in the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock valued at $20,070,000 after buying an additional 204,472 shares in the last quarter. Amundi increased its position in Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company's stock worth $11,637,000 after buying an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC bought a new position in Match Group during the 2nd quarter worth $298,000. 94.05% of the stock is owned by institutional investors.
Match Group Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
