Sigma Planning Corp Buys New Shares in Match Group Inc. $MTCH

Sigma Planning Corp bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the third quarter, HoldingsChannel reports. The firm bought 16,173 shares of the technology company’s stock, valued at approximately $649,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Match Group in the second quarter valued at approximately $1,087,055,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Match Group in the second quarter valued at $154,811,000. Bank of New York Mellon Corp acquired a new stake in Match Group in the second quarter valued at $100,796,000. Renaissance Technologies LLC boosted its position in shares of Match Group by 196.6% during the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after purchasing an additional 2,117,414 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Match Group by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,183,576 shares of the technology company’s stock worth $97,761,000 after purchasing an additional 92,364 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the completion of the sale, the director owned 26,839 shares in the company, valued at approximately $1,138,778.77. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Philip Eigenmann sold 15,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the sale, the chief accounting officer directly owned 19,389 shares of the company’s stock, valued at approximately $808,521.30. The trade was a 43.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 23,291 shares of company stock worth $976,478. Company insiders own 0.71% of the company’s stock.

Match Group Trading Down 2.9%

Shares of MTCH opened at $41.41 on Friday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $46.67. The stock’s fifty day simple moving average is $42.25 and its 200 day simple moving average is $36.49. The firm has a market capitalization of $9.51 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same period in the previous year, the company posted $0.49 earnings per share. Match Group’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts predict that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Monday, October 5th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Match Group’s payout ratio is presently 28.27%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Truist Financial lifted their price target on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on shares of Match Group in a research report on Monday, August 24th. They issued a “neutral” rating and a $43.00 price objective on the stock. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Eight analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Match Group currently has an average rating of “Moderate Buy” and a consensus target price of $44.23.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.