Philip Eigenmann Sells 15,000 Shares of Match Group (NASDAQ:MTCH) Stock

Match Group Inc. (NASDAQ:MTCH) CAO Philip Eigenmann sold 15,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $41.70, for a total value of $625,500.00. Following the completion of the transaction, the chief accounting officer owned 19,389 shares in the company, valued at $808,521.30. This represents a 43.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Match Group Stock Performance

Shares of NASDAQ MTCH traded up $0.36 during mid-day trading on Friday, reaching $41.58. The company had a trading volume of 2,173,409 shares, compared to its average volume of 4,137,426. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.62 and a beta of 1.30. The stock has a fifty day moving average of $38.49 and a two-hundred day moving average of $35.22. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $42.49.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Sell-side analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Match Group’s dividend payout ratio (DPR) is 28.27%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTCH. Piper Sandler set a $51.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Wall Street Zen cut Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada boosted their target price on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research raised Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, UBS Group upped their target price on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.46.

Institutional Trading of Match Group

Several large investors have recently added to or reduced their stakes in the business. Man Group plc acquired a new position in Match Group during the second quarter worth $23,631,000. PointState Capital LP acquired a new stake in shares of Match Group in the second quarter worth about $41,754,000. Redwood Investment Management LLC acquired a new stake in shares of Match Group in the second quarter worth about $2,275,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Match Group during the 2nd quarter worth about $13,180,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Match Group by 338.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after acquiring an additional 882,821 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Company Profile

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.