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

Match Group, Inc. (NASDAQ:MTCH - Get Free Report) President Gary Swidler sold 242,209 shares of Match Group 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 in the company, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Match Group Price Performance

Shares of Match Group stock traded down $0.62 on Tuesday, reaching $31.41. The company had a trading volume of 1,609,043 shares, compared to its average volume of 5,005,706. The firm's 50-day moving average price is $33.17 and its two-hundred day moving average price is $34.31. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data 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 574.22% and a net margin of 15.84%. As a group, analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.

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Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, April 3rd. Match Group's payout ratio is currently 37.62%.

Match Group declared that its board has approved a share repurchase plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC boosted its holdings in Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after acquiring an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Match Group during the third quarter valued at $31,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group in the fourth quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after buying an additional 1,512 shares during the period. Finally, Northwest & Ethical Investments L.P. purchased a new position in Match Group in the 3rd quarter worth about $57,000. Institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MTCH shares. Hsbc Global Res cut Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. BTIG Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price target on shares of Match Group in a research report on Monday, December 9th. Truist Financial dropped their target price on shares of Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, December 12th. Finally, Evercore ISI cut Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a report on Thursday, February 6th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.68.

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.