49,437 Shares in Match Group Inc. $MTCH Purchased by IPG Investment Advisors LLC

IPG Investment Advisors LLC purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 49,437 shares of the technology company’s stock, valued at approximately $1,881,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PointState Capital LP bought a new stake in Match Group in the 2nd quarter worth about $41,754,000. Man Group plc bought a new position in shares of Match Group during the 2nd quarter worth approximately $23,631,000. Redwood Investment Management LLC bought a new position in shares of Match Group during the 2nd quarter worth approximately $2,275,000. Punch & Associates Investment Management Inc. purchased a new position in shares of Match Group in the 2nd quarter worth approximately $13,180,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Match Group by 338.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after buying an additional 882,821 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Trading Up 0.7%

Match Group stock opened at $41.43 on Thursday. The business’s 50 day simple moving average is $39.43 and its 200 day simple moving average is $35.90. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $43.47. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.60 and a beta of 1.32.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, equities research analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

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 paid a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Wall Street Analysts Forecast Growth

MTCH has been the subject of a number of research analyst reports. Truist Financial increased their price target on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Morgan Stanley set a $40.00 price objective on Match Group in a research note on Wednesday, August 5th. Zacks Research raised Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Wells Fargo & Company lifted their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings raised shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.46.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 4,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the sale, the director owned 11,742 shares of the company’s stock, valued at $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann Mcdaniel sold 3,531 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the sale, the director owned 26,839 shares in the company, valued at $1,138,778.77. The trade was a 11.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,291 shares of company stock worth $976,478. 0.71% of the stock is currently owned by company 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.