Match Group (NASDAQ:MTCH) Shares Gap Up After Dividend Announcement

Shares of Match Group Inc. (NASDAQ:MTCHGet Free Report) gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $28.90, but opened at $33.18. Match Group shares last traded at $29.6170, with a volume of 1,616,409 shares changing hands.

The newly announced dividend which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a yield of 2.7%. This is an increase from Match Group’s previous quarterly dividend of $0.19. Match Group’s payout ratio is currently 35.51%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. UBS Group set a $37.00 price target on Match Group in a research note on Tuesday, January 13th. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday. Evercore ISI reduced their target price on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.31.

View Our Latest Report on MTCH

Match Group Stock Performance

The company has a market cap of $6.97 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 0.59 and a beta of 1.32. The stock’s fifty day moving average is $32.40 and its two-hundred day moving average is $33.99.

Match Group (NASDAQ:MTCHGet Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.17). Match Group had a negative return on equity of 339.08% and a net margin of 16.20%.The company had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Match Group Inc. will post 2.44 EPS for the current year.

Match Group News Summary

Here are the key news stories impacting Match Group this week:

Insider Buying and Selling

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the purchase, the chief executive officer directly owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Match Group

A number of hedge funds have recently bought and sold shares of MTCH. Harbor Capital Advisors Inc. purchased a new stake in shares of Match Group during the third quarter valued at approximately $25,000. Root Financial Partners LLC bought a new position in shares of Match Group during the third quarter valued at about $27,000. Employees Retirement System of Texas bought a new stake in shares of Match Group in the second quarter worth about $28,000. Activest Wealth Management raised its position in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Match Group in the 3rd quarter worth approximately $28,000. Institutional investors own 94.05% of the company’s stock.

About Match Group

(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.

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