Glenmede Trust Co. NA Buys 31,305 Shares of Match Group Inc. $MTCH

Glenmede Trust Co. NA boosted its stake in Match Group Inc. (NASDAQ:MTCH) by 76.6% in the first quarter, HoldingsChannel reports. The firm owned 72,161 shares of the technology company’s stock after buying an additional 31,305 shares during the period. Glenmede Trust Co. NA’s holdings in Match Group were worth $2,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after acquiring an additional 162,330 shares in the last quarter. Starboard Value LP grew its stake in Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after acquiring an additional 325,000 shares during the period. Invesco Ltd. grew its stake in Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after acquiring an additional 872,524 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Match Group by 32.8% during 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 acquiring an additional 2,011,970 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MTCH shares. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial boosted their price target on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Royal Bank Of Canada raised their price objective on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Match Group currently has an average rating of “Hold” and a consensus target price of $41.79.

Match Group Price Performance

Shares of MTCH stock opened at $38.15 on Thursday. The firm has a 50-day moving average of $37.31 and a 200-day moving average of $34.34. Match Group Inc. has a one year low of $28.81 and a one year high of $41.40. The company has a market cap of $8.90 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.66 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping 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 326.67%. The business had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same period in the previous year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Match Group Inc. will post 3.11 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. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group’s dividend payout ratio is currently 30.53%.

Trending Headlines about Match Group

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Match Group reported second-quarter adjusted EPS of $0.70, above the $0.65 analyst consensus. Net income increased to approximately $170.5 million from $125.5 million a year earlier, while management said adjusted EBITDA exceeded expectations. Match Group Announces Second Quarter Results
• Positive Sentiment: Hinge remained a key growth driver, with revenue up 22% year over year and global monthly active users rising 13%. Tinder’s year-over-year daily-active-user decline narrowed to 4%, suggesting early improvement from product and user-experience changes. Match Group Q2 Earnings and Revenue Report
• Positive Sentiment: The board declared a quarterly dividend of $0.20 per share, payable October 20 to shareholders of record on October 5. Match Group also repurchased approximately 7.3 million shares for $245 million through June. Match Group Q2 Revenue Report
• Neutral Sentiment: Management expects third-quarter revenue of $885 million to $895 million, broadly near the $891.3 million consensus estimate. Tinder Events is planned for expansion to 26 cities by the end of September, part of efforts to improve engagement and monetization. Match Group Third-Quarter Guidance
• Negative Sentiment: Second-quarter revenue was $853.1 million, down about 1% year over year and below the roughly $857.8 million consensus estimate. The miss reinforced concerns that Tinder’s turnaround is not yet translating into stronger sales. Match Group Revenue Miss Report
• Negative Sentiment: Investors remain concerned about declining payers, Tinder monetization pressure, and weaker Azar revenue. Commentary questioning whether artificial-intelligence initiatives can materially reverse the company’s growth slowdown added to the negative sentiment. Analysts have maintained bullish ratings, but at least one price target was reduced to $45 after the results.

Insider Activity

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

Match Group 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.