Ieq Capital LLC Buys Shares of 637,067 Match Group Inc. $MTCH

Ieq Capital LLC bought a new position in Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 637,067 shares of the technology company’s stock, valued at approximately $24,240,000. Ieq Capital LLC owned approximately 0.27% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MTCH. Callan Family Office LLC bought a new stake in shares of Match Group in the 2nd quarter valued at about $1,202,000. Allworth Financial LP bought a new position in shares of Match Group during the 2nd quarter worth approximately $732,000. Portfolio Design Labs LLC purchased a new stake in Match Group during the second quarter valued at approximately $274,000. Vise Technologies Inc. acquired a new stake in Match Group in the second quarter valued at approximately $837,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Match Group in the second quarter valued at approximately $154,811,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director directly owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. The trade was 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 this link. Insiders own 0.71% of the company’s stock.

Match Group Stock Performance

Shares of MTCH opened at $40.87 on Friday. The stock has a 50-day moving average of $38.01 and a two-hundred day moving average of $34.88. The stock has a market cap of $9.38 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.59 and a beta of 1.30. Match Group Inc. has a one year low of $28.81 and a one year high of $41.40.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data 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 period last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts predict that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 5th. Match Group’s payout ratio is presently 28.27%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. 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. Morgan Stanley set a $40.00 target price on Match Group in a research report on Wednesday, August 5th. Royal Bank Of Canada increased their price target on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Match Group has an average rating of “Moderate Buy” and an average target price of $41.54.

Match Group Company 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.