First Manhattan CO. LLC. Increases Stock Position in Match Group, Inc. (NASDAQ:MTCH)

First Manhattan CO. LLC. boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,466,894 shares of the technology company’s stock after buying an additional 63,238 shares during the period. First Manhattan CO. LLC. owned approximately 1.38% of Match Group worth $113,402,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Match Group by 94.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 28,884 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Match Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after acquiring an additional 939,078 shares during the period. Penn Davis Mcfarland Inc. boosted its holdings in shares of Match Group by 1.8% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company’s stock valued at $15,665,000 after acquiring an additional 8,414 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after acquiring an additional 69,947 shares during the period. Finally, Truist Financial Corp purchased a new position in shares of Match Group during the fourth quarter valued at approximately $250,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on MTCH shares. Hsbc Global Res cut shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 6th. HSBC cut Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on Match Group from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, Evercore ISI downgraded shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price for the company. in a report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Match Group has a consensus rating of “Hold” and a consensus price target of $36.44.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.77% of the company’s stock.

Match Group Trading Down 9.6 %

Match Group stock opened at $27.47 on Friday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.82 and a beta of 1.42. The stock has a 50 day moving average of $30.12 and a two-hundred day moving average of $32.19. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84.

Match Group (NASDAQ:MTCH) last released its earnings results on Thursday, May 8th. The technology company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.26). The firm had revenue of $831.20 million during the quarter, compared to analyst estimates of $826.35 million. Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.77%. Match Group’s dividend payout ratio is currently 37.62%.

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.