Empowered Funds LLC Buys New Stake in Match Group Inc. $MTCH

Empowered Funds LLC purchased a new position in shares of Match Group Inc. (NASDAQ:MTCHFree Report) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 82,067 shares of the technology company’s stock, valued at approximately $3,123,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Match Group in the second quarter valued at $1,087,055,000. AQR Capital Management LLC increased its position in shares of Match Group by 1,163.7% during the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after purchasing an additional 5,652,174 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Match Group during the second quarter worth about $154,811,000. Norges Bank acquired a new stake in shares of Match Group during the fourth quarter worth about $112,641,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Match Group in the 2nd quarter valued at about $100,796,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Price Performance

NASDAQ:MTCH opened at $41.91 on Wednesday. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 0.59 and a beta of 1.32. The firm’s fifty day moving average price is $38.86 and its 200 day moving average price is $35.42. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $42.49.

Match Group (NASDAQ:MTCHGet Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $857.77 million. During the same quarter in the prior year, the firm earned $0.49 EPS. Match Group’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts expect that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group’s payout ratio is 28.27%.

Insider Buying and Selling

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Philip D. Eigenmann sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the transaction, the chief accounting officer owned 19,389 shares in the company, valued at $808,521.30. The trade was a 43.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MTCH. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Citigroup lifted their price target on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. UBS Group boosted their price objective on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research raised Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Barclays raised their target price on shares of Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of “Moderate Buy” and a consensus target price of $42.46.

Check Out Our Latest Research Report on Match Group

Match Group News Roundup

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

About Match Group

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCHFree Report).

Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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