Match Group (NASDAQ:MTCH) Sets New 52-Week High – Should You Buy?

Match Group Inc. (NASDAQ:MTCH)’s share price reached a new 52-week high on Monday . The company traded as high as $43.53 and last traded at $43.1980, with a volume of 298793 shares. The stock had previously closed at $42.39.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Susquehanna reaffirmed a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. Truist Financial boosted their price objective on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. TD Cowen lowered their price objective on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued 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 price target of $42.46.

Match Group Stock Performance

The company’s fifty day moving average price is $39.60 and its 200-day moving average price is $36.06. The stock has a market cap of $10.02 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 0.62 and a beta of 1.32.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data 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. The company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. Analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio is presently 28.27%.

Insiders Place Their Bets

In other Match Group news, CAO Philip D. Eigenmann sold 15,000 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the sale, the chief accounting officer owned 19,389 shares in the company, valued at $808,521.30. This trade represents a 43.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the sale, the director owned 26,839 shares of the company’s stock, valued at approximately $1,138,778.77. This trade represents a 11.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,291 shares of company stock worth $976,478 in the last 90 days. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Match Group

A number of institutional investors and hedge funds have recently bought and sold shares of MTCH. Sequoia Financial Advisors LLC lifted its holdings in shares of Match Group by 21.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,574 shares of the technology company’s stock worth $555,000 after buying an additional 2,603 shares during the period. IPG Investment Advisors LLC bought a new stake in shares of Match Group in the second quarter valued at about $1,881,000. Nykredit A S bought a new stake in shares of Match Group in the second quarter valued at about $488,000. Allianz Asset Management GmbH purchased a new stake in Match Group in the second quarter worth about $2,459,000. Finally, Corient Private Wealth LP lifted its stake in Match Group by 25.5% in the second quarter. Corient Private Wealth LP now owns 136,480 shares of the technology company’s stock worth $5,193,000 after acquiring an additional 27,750 shares during the period. 94.05% of the stock is owned by institutional investors.

About Match Group

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.