Ritholtz Wealth Management Cuts Position in Match Group Inc. $MTCH

Ritholtz Wealth Management decreased its position in Match Group Inc. (NASDAQ:MTCHFree Report) by 62.0% during the 1st quarter, Holdings Channel reports. The fund owned 10,965 shares of the technology company’s stock after selling 17,903 shares during the quarter. Ritholtz Wealth Management’s holdings in Match Group were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Match Group by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after purchasing an additional 162,330 shares during the period. Starboard Value LP grew its position in shares of Match Group by 2.9% during the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock worth $367,957,000 after acquiring an additional 325,000 shares during the last quarter. Invesco Ltd. grew its position in Match Group by 9.8% during the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock worth $316,422,000 after purchasing an additional 872,524 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Match Group by 32.8% in the fourth quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock valued at $261,692,000 after purchasing an additional 2,011,970 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 0.5%

Shares of Match Group stock opened at $38.25 on Thursday. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $39.20. The company’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $33.20.

Match Group (NASDAQ:MTCHGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The firm had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Match Group’s payout ratio is 30.53%.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MTCH shares. Royal Bank Of Canada increased their target price on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Truist Financial set a $37.00 price objective on Match Group in a research note on Wednesday, May 6th. Citigroup increased their price objective on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Barclays boosted their target price on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.07.

Get Our Latest Report on MTCH

About Match Group

(Free Report)

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.

Further Reading

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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