Insider Selling: Match Group, Inc. (NASDAQ:MTCH) President Sells 242,209 Shares of 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 shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Match Group Stock Up 4.1 %

Shares of MTCH traded up $1.29 during mid-day trading on Friday, reaching $32.62. The company had a trading volume of 7,332,459 shares, compared to its average volume of 5,098,979. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The stock has a market capitalization of $8.19 billion, a P/E ratio of 16.15, a PEG ratio of 0.82 and a beta of 1.45. The stock has a 50 day moving average of $33.19 and a two-hundred day moving average of $34.41.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 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%. On average, sell-side analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group declared that its board has approved a share buyback plan 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 plans are often an indication that the company’s board of directors believes its stock is undervalued.

Match Group Announces Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.33%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

Institutional Investors Weigh In On Match Group

Several hedge funds have recently modified their holdings of the stock. Siemens Fonds Invest GmbH acquired a new stake in Match Group during the fourth quarter worth about $382,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Match Group during the fourth quarter valued at approximately $5,125,000. Polar Asset Management Partners Inc. purchased a new stake in Match Group during the fourth quarter worth approximately $8,249,000. Mackenzie Financial Corp increased its position in shares of Match Group by 6.8% in the fourth quarter. Mackenzie Financial Corp now owns 59,886 shares of the technology company’s stock worth $1,959,000 after acquiring an additional 3,787 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Match Group by 4.5% during the 4th quarter. Toronto Dominion Bank now owns 133,580 shares of the technology company’s stock valued at $4,369,000 after acquiring an additional 5,782 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on MTCH shares. UBS Group decreased their price target on shares of Match Group from $38.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America increased their price target on shares of Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Loop Capital lowered their price objective on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Morgan Stanley lifted their target price on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently 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.