Focus Partners Advisor Solutions LLC Buys New Holdings in Match Group Inc. $MTCH

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,613 shares of the technology company’s stock, valued at approximately $822,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. State of Wyoming acquired a new position in shares of Match Group in the 2nd quarter valued at about $554,000. GSA Capital Partners LLP acquired a new stake in Match Group during the 2nd quarter worth approximately $1,039,000. Summit Global Investments acquired a new stake in Match Group during the 2nd quarter worth approximately $732,000. Contravisory Investment Management Inc. purchased a new position in Match Group in the second quarter valued at approximately $76,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Match Group by 18.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 21,080 shares of the technology company’s stock valued at $802,000 after buying an additional 3,316 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the transaction, the director owned 56,370 shares in the company, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.71% of the company’s stock.

Match Group Trading Down 1.9%

Shares of MTCH stock opened at $37.22 on Tuesday. The company has a market capitalization of $8.54 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.56 and a beta of 1.30. The firm has a fifty day simple moving average of $37.59 and a 200-day simple moving average of $34.66. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.40.

Match Group (NASDAQ:MTCH) last released 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 business had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. During the same period last year, the business earned $0.49 EPS. The business’s revenue was down 1.2% on a year-over-year basis. Equities research analysts predict that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders 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 annualized dividend and a dividend yield of 2.1%. Match Group’s dividend payout ratio (DPR) is currently 28.27%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent research reports. TD Cowen reduced their price target on shares of Match Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. UBS Group raised their target price on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Truist Financial lifted their target price on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley set a $40.00 price target on Match Group in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.54.

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.