Match Group Inc. (MTCH) to Issue Quarterly Dividend of $0.20 on October 20th

Match Group Inc. (NASDAQ:MTCH) announced a quarterly dividend on Monday, August 3rd. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share by the technology company on Tuesday, October 20th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, October 5th.

Match Group has decreased its dividend by an average of 0.7%annually over the last three years. Match Group has a payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Match Group to earn $4.03 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 19.9%.

Match Group Stock Performance

Shares of Match Group stock opened at $40.32 on Friday. The firm has a market cap of $9.26 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The firm’s 50-day simple moving average is $40.48 and its 200-day simple moving average is $37.14. Match Group has a twelve month low of $28.81 and a twelve month high of $44.94.

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

Insider Activity at Match Group

In related news, Director Glenn Schiffman acquired 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the completion of the transaction, the director directly owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Philip Eigenmann sold 15,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the completion of the sale, the chief accounting officer directly owned 19,389 shares in the company, valued at $808,521.30. This represents a 43.62% 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 over the last ninety days. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Match Group

A number of institutional investors have recently modified their holdings of the company. Whittier Trust Co. boosted its holdings in shares of 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 buying an additional 431 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after buying an additional 884 shares during the last quarter. Root Financial Partners LLC increased its holdings in Match Group by 63.9% during the fourth quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company’s stock worth $40,000 after buying an additional 489 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Match Group by 141.5% during the fourth quarter. Hantz Financial Services Inc. now owns 1,843 shares of the technology company’s stock worth $60,000 after buying an additional 1,080 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in Match Group during the second quarter worth $76,000. 94.05% of the stock is currently owned by institutional investors.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help users form romantic, social and relationship-oriented connections across a range of demographics, interests and relationship goals.

Its brands include Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, OurTime, BLK, Chispa and The League. These services are available through mobile applications and websites and generally offer features such as user profiles, matching, messaging, discovery tools and subscription or other paid enhancements.

Match Group traces its origins to Match.com and was established as a standalone public company after being spun off from IAC in 2020.