Match Group, Inc. Plans Quarterly Dividend of $0.19 (NASDAQ:MTCH)

Match Group, Inc. (NASDAQ:MTCH) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors of record on Thursday, April 3rd will be given 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 2.26%. The ex-dividend date of this dividend is Thursday, April 3rd.

Match Group has a dividend payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Match Group to earn $2.49 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 30.5%.

Match Group Stock Performance

NASDAQ:MTCH opened at $33.58 on Thursday. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The stock has a market capitalization of $8.43 billion, a PE ratio of 14.99, a P/E/G ratio of 1.10 and a beta of 1.45. The company has a fifty day moving average of $32.93 and a two-hundred day moving average of $34.67.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. Research analysts forecast that Match Group will post 2.37 earnings per share for the current year.

Match Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 19% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MTCH shares. Bank of America increased their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. BTIG Research lowered shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Loop Capital lowered their target price on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $32.00 target price (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.72.

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction that occurred 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 in the company, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

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.