Proficio Capital Partners LLC Purchases Shares of 17,158 Match Group Inc. $MTCH

Proficio Capital Partners LLC acquired a new stake in Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 17,158 shares of the technology company’s stock, valued at approximately $653,000.

A number of other large investors have also recently made changes to their positions in the company. Woodline Partners LP acquired a new stake in Match Group in the first quarter valued at approximately $662,000. Northwestern Mutual Wealth Management Co. grew its holdings in Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after acquiring an additional 891 shares in the last quarter. First Trust Advisors LP increased its position in shares of Match Group by 45.9% in the 2nd 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 during the last quarter. Amundi increased its position in shares of Match Group by 1,477.6% in the 2nd 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 2nd quarter valued at $298,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MTCH shares. Piper Sandler set a $51.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Morgan Stanley set a $40.00 price target on Match Group in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their price target on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Finally, Susquehanna reissued a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. One 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. Based on data from MarketBeat, Match Group currently has an average rating of “Moderate Buy” and a consensus price target of $42.46.

Match Group Stock Down 0.3%

NASDAQ MTCH opened at $42.07 on Thursday. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. The business has a fifty day moving average of $38.38 and a 200-day moving average of $35.16. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $42.49.

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. The business had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. As a group, analysts anticipate that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.9%. Match Group’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling

In related news, Director Glenn Schiffman purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by corporate insiders.

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.