Jupiter Topco LLC Acquires Shares of 95,263 Match Group Inc. $MTCH

Jupiter Topco LLC acquired a new position in shares of Match Group Inc. (NASDAQ:MTCHFree Report) during the second quarter, Holdings Channel reports. The fund acquired 95,263 shares of the technology company’s stock, valued at approximately $3,624,000.

Several other institutional investors have also recently made changes to their positions in MTCH. Woodline Partners LP purchased a new stake in shares of Match Group in the first quarter valued at about $662,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Match Group by 20.4% during the second 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 in the last quarter. First Trust Advisors LP boosted its holdings in Match Group by 45.9% during the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock worth $20,070,000 after purchasing an additional 204,472 shares during the last quarter. Amundi boosted its holdings in Match Group by 1,477.6% during the second quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after purchasing an additional 335,971 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Match Group in the 2nd quarter worth about $298,000. Institutional investors own 94.05% of the company’s stock.

Match Group News Roundup

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

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 4,760 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the sale, the director directly owned 11,742 shares of the company’s stock, valued at $496,216.92. This trade represents a 28.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Philip D. Eigenmann sold 15,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $41.70, for a total value of $625,500.00. Following the completion of the sale, the chief accounting officer owned 19,389 shares in the company, valued at approximately $808,521.30. The trade was a 43.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MTCH shares. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Barclays boosted their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Morgan Stanley set a $40.00 target price on Match Group in a report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. initiated coverage on Match Group in a report on Monday, August 24th. They set a “neutral” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.46.

Check Out Our Latest Stock Report on Match Group

Match Group Stock Performance

MTCH opened at $41.91 on Wednesday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $42.49. The firm has a 50-day moving average of $38.86 and a 200 day moving average of $35.42. The firm has a market cap of $9.62 billion, a P/E ratio of 14.81, a PEG ratio of 0.59 and a beta of 1.32.

Match Group (NASDAQ:MTCHGet Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 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 analyst estimates 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 revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts predict that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

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

Match Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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