Investors Buy High Volume of Put Options on Match Group (NASDAQ:MTCH)

Match Group, Inc. (NASDAQ:MTCH) saw unusually large options trading on Tuesday. Traders purchased 16,338 put options on the stock. This is an increase of 33% compared to the average volume of 12,290 put options.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was 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. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in shares of Match Group during the second quarter worth about $731,000. Czech National Bank grew its stake in Match Group by 3.8% during the 3rd quarter. Czech National Bank now owns 52,535 shares of the technology company’s stock worth $1,988,000 after buying an additional 1,909 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Match Group by 19.1% during the third quarter. Handelsbanken Fonder AB now owns 63,100 shares of the technology company’s stock worth $2,388,000 after acquiring an additional 10,100 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Match Group by 114.4% in the third quarter. GAMMA Investing LLC now owns 5,391 shares of the technology company’s stock valued at $204,000 after purchasing an additional 2,877 shares during the period. Finally, Fulton Bank N.A. raised its stake in Match Group by 3.1% during the 3rd quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after acquiring an additional 299 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MTCH shares. Jefferies Financial Group restated a “hold” rating and set a $32.00 price objective (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Barclays decreased their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Loop Capital reduced their price target on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Bank of America lifted their price target on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Fourteen 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.72.

Match Group Stock Performance

Shares of NASDAQ:MTCH traded up $0.58 during trading on Tuesday, hitting $35.98. The company’s stock had a trading volume of 2,229,916 shares, compared to its average volume of 3,685,196. The business has a 50 day moving average price of $32.85 and a two-hundred day moving average price of $34.66. The company has a market capitalization of $9.03 billion, a PE ratio of 16.07, 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.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Monday, January 6th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.11%. Match Group’s dividend payout ratio is currently 33.93%.

Match Group announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 19% of its stock through open market purchases. Stock 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.