Match Group (NASDAQ:MTCH) Issues Earnings Results

Match Group (NASDAQ:MTCH) announced its quarterly earnings results on Tuesday. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22), Zacks reports. Match Group had a net margin of 17.86% and a negative return on equity of 721.15%.

Match Group Trading Up 3.0 %

Shares of Match Group stock traded up $1.07 during trading on Tuesday, reaching $36.47. The company’s stock had a trading volume of 8,935,765 shares, compared to its average volume of 3,990,130. The firm has a market cap of $9.16 billion, a PE ratio of 16.28, a P/E/G ratio of 1.10 and a beta of 1.45. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The company has a 50-day moving average price of $32.85 and a two-hundred day moving average price of $34.66.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.08%. Match Group’s dividend payout ratio is presently 33.93%.

Match Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on MTCH shares. KeyCorp decreased their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Evercore ISI cut their target price on Match Group from $37.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

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.