State of Wyoming bought a new position in shares of Match Group Inc. (NASDAQ:MTCH – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,551 shares of the technology company’s stock, valued at approximately $554,000.
Several other large investors have also recently modified their holdings of MTCH. Versant Capital Management Inc lifted its stake in shares of Match Group by 1.9% during the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock valued at $588,000 after buying an additional 289 shares in the last quarter. Bessemer Group Inc. grew its stake in Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares in the last quarter. Bollard Group LLC grew its stake in Match Group by 0.6% in the 1st quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock valued at $1,625,000 after buying an additional 322 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Match Group by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after acquiring an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Match Group by 53.0% during the 4th 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 period. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Insider Buying and Selling
In other Match Group news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the transaction, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is currently owned by insiders.
Match Group Price Performance
Match Group (NASDAQ:MTCH – Get Free Report) last released 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. The firm had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. On average, research analysts anticipate that Match Group Inc. will post 3.31 EPS for the current year.
Match Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.1%. Match Group’s dividend payout ratio (DPR) is currently 28.27%.
Wall Street Analysts Forecast Growth
MTCH has been the topic of several recent research reports. Truist Financial increased their target price on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Morgan Stanley set a $40.00 price target on Match Group in a research report on Wednesday, August 5th. Citigroup boosted their price objective on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Susquehanna reissued a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. Finally, TD Cowen cut their target price on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.54.
Read Our Latest Report on Match Group
Key Headlines Impacting Match Group
Here are the key news stories impacting Match Group this week:
- Positive Sentiment: Zacks upgraded Match Group to Rank #1, or “Strong Buy,” and included MTCH among its top growth stocks. The upgrade may attract additional quantitative and growth-focused buying interest. Best Growth Stocks to Buy for August 14th
- Positive Sentiment: Director Glenn Schiffman purchased 3,000 shares for approximately $109,890, increasing his direct stake by 5.62%. Open-market insider buying can signal confidence in Match Group’s valuation and outlook. Match Group Director Purchases Shares
- Neutral Sentiment: Match Group’s latest quarterly results showed EPS of $0.70 versus the $0.65 consensus estimate, but revenue of $853.1 million missed expectations and declined 1.2% year over year. The mixed performance leaves investors focused on whether growth can reaccelerate.
- Negative Sentiment: Director Schiffman separately sold 20,030 shares for approximately $736,703, representing 27% of his direct holdings. Although the same-day purchase partially offsets the signal, the much larger disposition could weigh on sentiment and suggests caution from at least one insider. Match Group Director Sells Shares
Match Group Company Profile
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.
Featured Articles
- Five stocks we like better than Match Group
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.
