Gary Swidler Sells 242,209 Shares of Match Group, Inc. (NASDAQ:MTCH) Stock

Match Group, Inc. (NASDAQ:MTCH) President Gary Swidler sold 242,209 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Match Group Trading Up 4.1 %

Shares of MTCH opened at $32.62 on Friday. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The firm has a 50-day moving average price of $33.18 and a 200 day moving average price of $34.36. The firm has a market capitalization of $8.17 billion, a P/E ratio of 16.15, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Equities research analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, April 3rd. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Match Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on MTCH. HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Barclays dropped their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Bank of America upped their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. KeyCorp dropped their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.68.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Starboard Value LP purchased a new position in Match Group during the third quarter worth about $361,605,000. Versor Investments LP boosted its stake in Match Group by 301.7% during the third quarter. Versor Investments LP now owns 48,200 shares of the technology company’s stock worth $1,824,000 after buying an additional 36,200 shares during the period. Paloma Partners Management Co boosted its stake in Match Group by 510.3% during the third quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company’s stock worth $2,463,000 after buying an additional 54,422 shares during the period. Aviance Capital Partners LLC purchased a new position in Match Group during the third quarter worth about $2,170,000. Finally, Mawer Investment Management Ltd. lifted its position in shares of Match Group by 71.4% during the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company’s stock worth $24,344,000 after purchasing an additional 267,890 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.