Evolve Private Wealth LLC Purchases New Position in Match Group Inc. $MTCH

Evolve Private Wealth LLC acquired a new stake in shares of Match Group Inc. (NASDAQ:MTCH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,101 shares of the technology company’s stock, valued at approximately $3,276,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its stake in shares of Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after buying an additional 848 shares during the last quarter. Advisory Services Network LLC bought a new position in Match Group in the third quarter valued at about $28,000. Whittier Trust Co. lifted its holdings in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after acquiring an additional 431 shares during the period. Parkside Financial Bank & Trust boosted its position in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of Match Group by 1,319.4% in the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after buying an additional 884 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity at Match Group

In other news, Director Glenn Schiffman purchased 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the acquisition, the director directly owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This represents a 5.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $40.87 on Friday. The firm has a fifty day moving average price of $38.01 and a 200-day moving average price of $34.88. The stock has a market cap of $9.38 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.40.

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

Match Group Dividend Announcement

The company 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. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is 28.27%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MTCH shares. Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Citigroup lifted their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and issued a $43.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Wells Fargo & Company raised their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Finally, Susquehanna reiterated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.54.

About Match Group

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.