Glenn Schiffman Purchases 3,000 Shares of Match Group (NASDAQ:MTCH) Stock

Match Group Inc. (NASDAQ:MTCH) Director Glenn Schiffman bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the transaction, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Match Group Trading Up 1.8%

Shares of NASDAQ MTCH opened at $37.95 on Friday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.40. The firm’s 50-day moving average is $37.53 and its 200-day moving average is $34.60. The firm has a market capitalization of $8.71 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 0.55 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. During the same period in the previous year, the firm posted $0.49 earnings per share. Match Group’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a $0.20 dividend. 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 2.1%. Match Group’s dividend payout ratio is 28.27%.

Key Headlines Impacting Match Group

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

• Positive Sentiment: Zacks upgraded Match Group to Rank #1, or “Strong Buy,” and included MTCH among its top growth stocks. The upgrade may attract additional quantitative and growth-focused buying interest. Best Growth Stocks to Buy for August 14th
• Positive Sentiment: Director Glenn Schiffman purchased 3,000 shares for approximately $109,890, increasing his direct stake by 5.62%. Open-market insider buying can signal confidence in Match Group’s valuation and outlook. Match Group Director Purchases Shares
• Neutral Sentiment: Match Group’s latest quarterly results showed EPS of $0.70 versus the $0.65 consensus estimate, but revenue of $853.1 million missed expectations and declined 1.2% year over year. The mixed performance leaves investors focused on whether growth can reaccelerate.
• Negative Sentiment: Director Schiffman separately sold 20,030 shares for approximately $736,703, representing 27% of his direct holdings. Although the same-day purchase partially offsets the signal, the much larger disposition could weigh on sentiment and suggests caution from at least one insider. Match Group Director Sells Shares

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTCH. Advisory Services Network LLC bought a new stake in shares of Match Group in the third quarter worth about $28,000. Activest Wealth Management raised its position in shares of Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after purchasing an additional 848 shares during the period. Whittier Trust Co. lifted its holdings in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after purchasing an additional 431 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock valued at $36,000 after purchasing an additional 884 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Weiss Ratings upgraded Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Susquehanna reaffirmed a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Barclays increased their price target on shares of Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and an average target price of $41.54.

About Match Group

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.