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

Match Group, Inc. (NASDAQ:MTCH) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors 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 dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, January 6th.

Match Group has a payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 stock has a market capitalization of $8.21 billion, a P/E ratio of 14.59, a PEG ratio of 1.18 and a beta of 1.45. The business’s 50 day moving average is $32.94 and its two-hundred day moving average is $34.27. Match Group has a 1-year low of $27.66 and a 1-year high of $42.42.

Match Group announced that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Match Group

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, December 12th. Susquehanna cut their target price on Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on 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. Thirteen research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

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.