Foster & Motley Inc. Makes New Investment in Match Group Inc. $MTCH

Foster & Motley Inc. acquired a new stake in Match Group Inc. (NASDAQ:MTCH) during the second quarter, HoldingsChannel.com reports. The fund acquired 74,930 shares of the technology company’s stock, valued at approximately $2,851,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Woodline Partners LP purchased a new stake in shares of Match Group during the 1st quarter worth $662,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Match Group by 20.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after purchasing an additional 891 shares in the last quarter. First Trust Advisors LP increased its holdings in Match Group by 45.9% in the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after buying an additional 204,472 shares during the last quarter. Amundi increased its holdings in Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after buying an additional 335,971 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in Match Group in the second quarter valued at $298,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Match Group

In other news, Director Glenn Schiffman acquired 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the transaction, the director owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

Match Group Trading Up 3.9%

Match Group stock opened at $38.69 on Wednesday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.40. The stock has a 50 day moving average of $37.67 and a two-hundred day moving average of $34.71. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.56 and a beta of 1.30.

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, beating analysts’ consensus estimates 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 business had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts predict that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is currently 28.27%.

Analyst Ratings Changes

MTCH has been the subject of a number of recent analyst reports. Morgan Stanley set a $40.00 price target on Match Group in a report on Wednesday, August 5th. Weiss Ratings upgraded Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Truist Financial boosted their target price on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.54.

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.