Stock Traders Purchase High Volume of Put Options on Match Group (NASDAQ:MTCH)

Match Group, Inc. (NASDAQ:MTCHGet Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 16,338 put options on the stock. This is an increase of approximately 33% compared to the average daily volume of 12,290 put options.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sumitomo Life Insurance Co. lifted its stake in shares of Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after acquiring an additional 297 shares during the last quarter. Fulton Bank N.A. increased its stake in Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock worth $379,000 after purchasing an additional 299 shares during the period. Empirical Finance LLC lifted its position in shares of Match Group by 1.5% during the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after purchasing an additional 384 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. KeyCorp decreased their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Susquehanna dropped their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.72.

Check Out Our Latest Report on MTCH

Match Group Stock Up 3.0 %

Shares of NASDAQ:MTCH opened at $36.47 on Wednesday. The firm has a fifty day simple moving average of $32.85 and a two-hundred day simple moving average of $34.66. The stock has a market capitalization of $9.16 billion, a P/E ratio of 16.28, a PEG ratio of 1.10 and a beta of 1.45. Match Group has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCHGet Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. On average, analysts expect that Match Group will post 2.37 earnings per share for the current year.

Match Group declared that its board has approved a stock repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Monday, January 6th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.08%. Match Group’s payout ratio is presently 33.93%.

Match Group Company Profile

(Get Free Report)

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.

Further Reading

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