California State Teachers Retirement System grew its stake in Match Group Inc. (NASDAQ:MTCH – Free Report) by 22.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,919 shares of the technology company’s stock after purchasing an additional 48,996 shares during the period. California State Teachers Retirement System’s holdings in Match Group were worth $8,136,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MTCH. Activest Wealth Management raised its stake in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after buying an additional 848 shares during the period. Advisory Services Network LLC acquired a new position in shares of Match Group during the third quarter worth $28,000. Whittier Trust Co. raised its position in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after acquiring an additional 431 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after acquiring an additional 356 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Match Group in the 4th quarter valued at $38,000. 94.05% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
MTCH has been the topic of several analyst reports. Barclays lifted their target price on shares of Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. UBS Group raised their price objective on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Truist Financial set a $37.00 target price on Match Group in a research report on Wednesday, May 6th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley upped their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Match Group currently has an average rating of “Hold” and a consensus target price of $41.29.
Match Group News Summary
Here are the key news stories impacting Match Group this week:
- Positive Sentiment: Match Group reported second-quarter diluted EPS of $0.70, above the consensus estimate of $0.65, while adjusted EBITDA also exceeded management’s expectations. Net income increased 36% year over year to $170.5 million. Match Group Announces Second Quarter Results
- Positive Sentiment: Management said Tinder engagement trends improved, with the year-over-year decline in daily active users narrowing to 4%. Hinge remained a major growth driver, increasing revenue 22% and global monthly active users 13%. Match Group Announces Second Quarter Results
- Positive Sentiment: The company declared a quarterly dividend of $0.20 per share and repurchased approximately 7.3 million shares for $245 million through June 30, supporting shareholder returns. Match Group Q2 Revenue Falls 1% To $853 Million
- Neutral Sentiment: Third-quarter revenue guidance of $885 million to $895 million was broadly near the $891.3 million analyst estimate, suggesting stabilization but limited near-term growth. Match Group Earnings Report
- Negative Sentiment: Second-quarter revenue was $853 million, down roughly 1% year over year and below estimates near $858 million. Sluggish Tinder monetization, product changes intended to improve the user experience, and weaker Azar revenue are weighing on the outlook. One earnings report also cited adjusted EPS of $0.92 versus a $0.97 consensus estimate. Match Group Revenue Falls Short of Estimates
Match Group Price Performance
Shares of MTCH opened at $41.24 on Wednesday. The company has a market cap of $9.62 billion, a P/E ratio of 15.74, a PEG ratio of 0.65 and a beta of 1.30. The stock has a fifty day moving average price of $37.27 and a 200 day moving average price of $34.29. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.40.
Match Group (NASDAQ:MTCH – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same period last year, the company earned $0.49 earnings per share. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Match Group Inc. will post 3.11 earnings per share for the current year.
Match Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Match Group’s dividend payout ratio (DPR) is currently 30.53%.
Insider Transactions at Match Group
In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director directly owned 16,218 shares in the company, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.71% of the company’s stock.
About Match Group
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.
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