Insider Selling: Match Group, Inc. (NASDAQ:MTCH) President Sells $7,958,987.74 in Stock

Match Group, Inc. (NASDAQ:MTCH) President Gary Swidler sold 242,209 shares of the stock in a transaction that occurred 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 approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Match Group Stock Performance

NASDAQ MTCH opened at $32.62 on Monday. The firm’s fifty day moving average is $33.18 and its two-hundred day moving average is $34.34. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The firm has a market cap of $8.17 billion, a PE ratio of 16.15, a P/E/G ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Research analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, April 3rd. Match Group’s payout ratio is 37.62%.

Match Group declared that its board has initiated a stock repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Match Group

A number of hedge funds have recently added to or reduced their stakes in MTCH. Metis Global Partners LLC increased its position in Match Group by 3.0% during the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after purchasing an additional 318 shares during the period. Cornerstone Investment Partners LLC boosted its stake in shares of Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after buying an additional 349 shares in the last quarter. Assetmark Inc. grew its holdings in Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after acquiring an additional 378 shares during the period. Empirical Finance LLC raised its position in Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after acquiring an additional 384 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in Match Group by 1.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock worth $757,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MTCH shares. Wells Fargo & Company lowered their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. Hsbc Global Res downgraded Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Loop Capital decreased their target price on shares of 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, Barclays dropped their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.68.

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.