Match Group (NASDAQ:MTCH) Issues Quarterly Earnings Results

Match Group (NASDAQ:MTCH) released its quarterly earnings results on Tuesday. The technology company reported $0.62 earnings per share (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 MTCH traded up $1.07 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. Match Group has a twelve month low of $27.66 and a twelve month high of $38.84. The stock has a market capitalization of $9.16 billion, a PE ratio of 16.28, a PEG ratio of 1.10 and a beta of 1.45. The firm has a fifty day moving average of $32.85 and a 200-day moving average of $34.66.

Match Group Announces Dividend

The firm 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, January 6th. Match Group’s dividend payout ratio (DPR) is 33.93%.

Insider Buying and Selling at Match Group

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

Wall Street Analyst Weigh In

Several research analysts have commented on MTCH shares. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Jefferies Financial Group reissued a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Wells Fargo & Company dropped their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Match Group announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.