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 stock in a transaction on 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 sale, the chief accounting officer owned 19,389 shares in the company, valued at approximately $808,521.30. The trade was a 43.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Match Group Price Performance

MTCH opened at $41.58 on Friday. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $42.49. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.61 and a beta of 1.30. The business has a fifty day moving average price of $38.61 and a 200 day moving average price of $35.27.

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

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Match Group’s payout ratio is currently 28.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Susquehanna restated a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. JPMorgan Chase & Co. started coverage on shares of Match Group in a research note on Monday, August 24th. They set a “neutral” rating and a $43.00 target price for the company. Citigroup increased their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price target on Match Group in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their price target on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.46.

Institutional Trading of Match Group

Several institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in Match Group by 1.9% during the second quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock worth $588,000 after buying an additional 289 shares in the last quarter. Bessemer Group Inc. increased its holdings in Match Group by 3.1% in the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares in the last quarter. Bollard Group LLC lifted its position in shares of Match Group by 0.6% during the 1st quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock valued at $1,625,000 after acquiring an additional 322 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Match Group by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after acquiring an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake 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 worth $33,000 after acquiring an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.