Match Group Inc. $MTCH Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its holdings in Match Group Inc. (NASDAQ:MTCH) by 178.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,588 shares of the technology company’s stock after purchasing an additional 18,303 shares during the period. NewEdge Advisors LLC’s holdings in Match Group were worth $878,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTCH. Woodline Partners LP purchased a new position in Match Group in the 1st quarter worth approximately $662,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Match Group by 20.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after purchasing an additional 891 shares in the last quarter. First Trust Advisors LP grew its position in shares of 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 purchasing an additional 204,472 shares in the last quarter. Amundi increased its holdings in shares of 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 purchasing an additional 335,971 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of Match Group in the second quarter valued at approximately $298,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective 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. Piper Sandler set a $51.00 target price on Match Group in a research note on Wednesday, May 6th. Barclays lifted their price target on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, TD Cowen dropped their price objective on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a 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 issued a Hold rating to the stock. According to MarketBeat.com, Match Group has an average rating of “Moderate Buy” and a consensus price target of $41.54.

Insider Buying and Selling

In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the company’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 completion of the purchase, the director directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is owned by corporate insiders.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $38.69 on Wednesday. The firm has a market capitalization of $8.88 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.56 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. The firm’s 50-day moving average is $37.67 and its two-hundred day moving average is $34.71.

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

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given 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 dividend payout ratio (DPR) is currently 28.27%.

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.