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

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler set a $51.00 price target on shares of Match Group in a research report on Wednesday, May 6th. UBS Group increased their price objective on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Truist Financial raised their target price on shares of Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Citigroup boosted their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company upped their price target on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Match Group has an average rating of “Moderate Buy” and a consensus target price of $42.46.

Match Group Trading Up 1.4%

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

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

Match Group Dividend Announcement

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

Insider Buying and Selling at Match Group

In other news, Director Glenn Schiffman purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average price 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 approximately $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 at the SEC website. 0.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in shares of Match Group by 1.9% in the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock worth $588,000 after acquiring an additional 289 shares during the period. Bessemer Group Inc. increased its stake in shares of Match Group by 3.1% during the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after acquiring an additional 311 shares during the period. Bollard Group LLC raised its holdings in Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock worth $1,625,000 after purchasing an additional 322 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Match Group by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after purchasing an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.