Manning & Napier Advisors LLC Invests $9.60 Million in Match Group Inc. $MTCH

Manning & Napier Advisors LLC purchased a new stake in Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 252,287 shares of the technology company’s stock, valued at approximately $9,600,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Match Group by 338.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after purchasing an additional 882,821 shares during the period. Deprince Race & Zollo Inc. boosted its position in Match Group by 97.2% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock valued at $47,574,000 after purchasing an additional 763,764 shares during the period. Bank of America Corp DE grew its stake in Match Group by 11.8% during the 1st quarter. Bank of America Corp DE now owns 3,054,114 shares of the technology company’s stock worth $93,792,000 after buying an additional 323,006 shares during the last quarter. Swedbank AB grew its stake in Match Group by 22.3% during the 4th quarter. Swedbank AB now owns 816,800 shares of the technology company’s stock worth $26,374,000 after buying an additional 148,700 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in Match Group by 131.5% in the first quarter. Chicago Partners Investment Group LLC now owns 45,280 shares of the technology company’s stock worth $1,391,000 after buying an additional 25,722 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other news, Director Glenn Schiffman acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.71% of the company’s stock.

Match Group Trading Up 2.1%

MTCH stock opened at $41.73 on Tuesday. The firm’s 50-day moving average is $38.13 and its two-hundred day moving average is $34.99. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $41.79.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. During the same period last year, the firm posted $0.49 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The company also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MTCH shares. UBS Group boosted their price target on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. 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 target price on shares of Match Group in a research note on Wednesday, August 5th. Barclays upped their target price on shares of Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.46.

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.