VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 50,200 shares of the technology company’s stock, valued at approximately $1,910,000.
Other large investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in Match Group during the 3rd quarter valued at approximately $28,000. Whittier Trust Co. boosted its position in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after acquiring an additional 431 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in shares of Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after acquiring an additional 884 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Match Group by 53.0% during 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 in the last quarter. Finally, Wexford Capital LP purchased a new position in Match Group during the third quarter valued at $43,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. assumed coverage on Match Group in a research report on Monday, August 24th. They issued a “neutral” rating and a $43.00 target price on the stock. Finally, Truist Financial raised their price target on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.46.
Insiders Place Their Bets
In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the acquisition, the director owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann Mcdaniel sold 3,531 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the sale, the director directly owned 26,839 shares of the company’s stock, valued at $1,138,778.77. This represents a 11.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,291 shares of company stock worth $976,478. Corporate insiders own 0.71% of the company’s stock.
Match Group Trading Up 1.4%
Match Group stock opened at $42.39 on Friday. The firm has a 50-day moving average price of $39.60 and a 200-day moving average price of $36.02. The firm has a market capitalization of $9.73 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.61 and a beta of 1.32. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $43.47.
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 the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. During the same period in the prior year, the firm posted $0.49 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.
Match Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group’s payout ratio is 28.27%.
Match Group Profile
Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.
Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.
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