Summit Global Investments Buys Shares of 19,228 Match Group Inc. $MTCH

Summit Global Investments purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 19,228 shares of the technology company’s stock, valued at approximately $732,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Woodline Partners LP bought a new position in Match Group in the first quarter valued at about $662,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 valued at $162,000 after purchasing an additional 891 shares during the period. First Trust Advisors LP grew its stake in shares of Match Group by 45.9% during 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 period. Amundi increased its position in shares of Match Group by 1,477.6% during 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 purchased a new stake in shares of Match Group during the 2nd quarter valued at about $298,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of research reports. Wall Street Zen downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. TD Cowen reduced their target price 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. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Citigroup lifted their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.54.

Insiders Place Their Bets

In other news, Director Glenn Schiffman purchased 3,000 shares of the stock in a transaction 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 completion of the acquisition, the director directly owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.71% of the stock is owned by corporate insiders.

More Match Group News

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Zacks upgraded Match Group to Rank #1, or “Strong Buy,” and included MTCH among its top growth stocks. The upgrade may attract additional quantitative and growth-focused buying interest. Best Growth Stocks to Buy for August 14th
• Positive Sentiment: Director Glenn Schiffman purchased 3,000 shares for approximately $109,890, increasing his direct stake by 5.62%. Open-market insider buying can signal confidence in Match Group’s valuation and outlook. Match Group Director Purchases Shares
• Neutral Sentiment: Match Group’s latest quarterly results showed EPS of $0.70 versus the $0.65 consensus estimate, but revenue of $853.1 million missed expectations and declined 1.2% year over year. The mixed performance leaves investors focused on whether growth can reaccelerate.
• Negative Sentiment: Director Schiffman separately sold 20,030 shares for approximately $736,703, representing 27% of his direct holdings. Although the same-day purchase partially offsets the signal, the much larger disposition could weigh on sentiment and suggests caution from at least one insider. Match Group Director Sells Shares

Match Group Stock Up 1.8%

Shares of MTCH opened at $37.95 on Friday. The business has a 50-day simple moving average of $37.53 and a two-hundred day simple moving average of $34.60. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $41.40. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.56 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data 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. The firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

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.