Match Group, Inc. (MTCH) To Go Ex-Dividend on January 6th

Match Group, Inc. (NASDAQ:MTCH) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Shareholders of record on Monday, January 6th will be paid a dividend of 0.19 per share by the technology company on Tuesday, January 21st. This represents a $0.76 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Monday, January 6th.

Match Group has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Match Group to earn $2.21 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 34.4%.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $32.68 on Friday. The business has a fifty day moving average price of $32.94 and a 200-day moving average price of $34.27. The company has a market capitalization of $8.21 billion, a PE ratio of 14.59, a PEG ratio of 1.18 and a beta of 1.45. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by corporate insiders.

Match Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to purchase up to 19% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a report on Monday, December 16th. KeyCorp cut their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Loop Capital reduced their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Barclays lowered their price target on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial reduced their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Thirteen research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.68.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.