Match Group, Inc. (NASDAQ:MTCH) to Issue Quarterly Dividend of $0.19

Match Group, Inc. (NASDAQ:MTCH) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Thursday, April 3rd will be paid a dividend of 0.19 per share by the technology company on Thursday, April 17th. This represents a $0.76 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, April 3rd.

Match Group has a dividend payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Match Group to earn $2.49 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 30.5%.

Match Group Price Performance

Shares of NASDAQ MTCH traded down $2.84 during mid-day trading on Wednesday, hitting $33.64. The company had a trading volume of 7,928,105 shares, compared to its average volume of 4,148,776. The firm’s 50 day simple moving average is $32.93 and its two-hundred day simple moving average is $34.67. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.10 and a beta of 1.45. Match Group has a 12 month low of $27.66 and a 12 month high of $38.84.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. Equities analysts forecast that Match Group will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MTCH shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price target (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. KeyCorp decreased their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Stifel Nicolaus decreased their target price on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Susquehanna decreased their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group restated a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Fourteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and an average target price of $37.72.

Match Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by insiders.

About Match Group

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.