Holocene Advisors LP Raises Stake in Match Group Inc. $MTCH

Holocene Advisors LP increased its holdings in Match Group Inc. (NASDAQ:MTCH) by 2,474.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,741,573 shares of the technology company’s stock after buying an additional 2,635,085 shares during the period. Holocene Advisors LP’s holdings in Match Group were worth $96,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MTCH. Woodline Partners LP acquired a new stake in shares of Match Group in the first quarter worth $662,000. Campbell & CO Investment Adviser LLC acquired a new position in Match Group during the second quarter valued at $416,000. Allworth Financial LP boosted its holdings in Match Group by 19.7% in the second quarter. Allworth Financial LP now owns 6,535 shares of the technology company’s stock valued at $202,000 after purchasing an additional 1,077 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Match Group by 71.2% in the second quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock valued at $965,000 after purchasing an additional 12,987 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Match Group by 3.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 93,583 shares of the technology company’s stock worth $2,891,000 after purchasing an additional 3,354 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $30.29 on Tuesday. The business’s 50 day moving average price is $31.23 and its 200-day moving average price is $33.00. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.50 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.17). The company had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.Match Group’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. On average, sell-side analysts expect that Match Group Inc. will post 2.44 earnings per share for the current year.

Match Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be paid a dividend of $0.20 per share. This is an increase from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, April 7th. Match Group’s dividend payout ratio is presently 31.93%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTCH. UBS Group reissued a “neutral” rating on shares of Match Group in a report on Friday. TD Cowen dropped their target price on Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Wolfe Research set a $43.00 price target on Match Group and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Morgan Stanley set a $35.00 price objective on Match Group in a research report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has an average rating of “Hold” and an average price target of $35.86.

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.