Match Group (NASDAQ:MTCH) Reaches New 12-Month High – Should You Buy?

Match Group Inc. (NASDAQ:MTCH) hit a new 52-week high on Monday . The company traded as high as $41.42 and last traded at $41.3080, with a volume of 149022 shares traded. The stock had previously closed at $40.87.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. TD Cowen cut their target price on Match Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Truist Financial raised their price target on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Finally, Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.46.

Match Group Price Performance

The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. The firm has a fifty day moving average of $38.01 and a 200 day moving average of $34.90.

Match Group (NASDAQ:MTCH) last posted its earnings results 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. The firm had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Research analysts predict that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Announces Dividend

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

Insider Buying and Selling at Match Group

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Advisory Services Network LLC acquired a new stake in shares of Match Group in the third quarter worth approximately $28,000. Activest Wealth Management raised its stake in Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the last quarter. Whittier Trust Co. raised its stake in Match Group by 91.3% in 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 during the last quarter. Elevation Wealth Partners LLC lifted its holdings in Match Group by 1,319.4% in 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 Match Group by 53.0% in 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. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.