Match Group Inc. $MTCH Position Cut by Family Manage LLC

Family Manage LLC decreased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 91.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,424 shares of the technology company’s stock after selling 106,968 shares during the quarter. Family Manage LLC’s holdings in Match Group were worth $289,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MTCH. Advisory Services Network LLC acquired a new stake in shares of Match Group in the 3rd quarter worth about $28,000. Activest Wealth Management boosted its stake in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the period. Whittier Trust Co. grew its position in Match Group by 91.3% in the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after purchasing an additional 431 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Match Group in the fourth quarter valued at approximately $38,000. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of MTCH stock opened at $38.80 on Tuesday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.03. The business’s fifty day moving average is $36.77 and its 200-day moving average is $33.97. The stock has a market cap of $9.05 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The business had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 7th. Match Group’s dividend payout ratio is presently 30.53%.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several analyst reports. Barclays boosted their price objective on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research report on Wednesday, May 6th. UBS Group lifted their target price on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, TD Cowen raised their price target on Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.29.

Insider Buying and Selling at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.71% of the company’s stock.

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.