Match Group, Inc. (MTCH) to Issue Quarterly Dividend of $0.19 on April 17th

Match Group, Inc. (NASDAQ:MTCH) announced a quarterly dividend on Tuesday, February 4th, Wall Street Journal reports. Stockholders of record on Thursday, April 3rd will be paid a dividend of 0.19 per share by the technology company on Thursday, April 17th. This represents a $0.76 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, April 3rd.

Match Group has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Match Group to earn $2.82 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 27.0%.

Match Group Stock Performance

Shares of MTCH opened at $31.20 on Tuesday. Match Group has a 52-week low of $27.66 and a 52-week high of $38.84. The stock’s 50-day simple moving average is $32.82 and its 200 day simple moving average is $33.74. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, research analysts forecast that Match Group will post 2.44 earnings per share for the current fiscal year.

Match Group announced that its board has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, December 12th. Hsbc Global Res lowered shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Match Group in a report on Monday, December 9th. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley upped their target price on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.68.

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

Match Group Company Profile

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.