Oppenheimer & Co. Inc. Sells 23,973 Shares of Match Group Inc. $MTCH

Oppenheimer & Co. Inc. lowered its position in shares of Match Group Inc. (NASDAQ:MTCH) by 80.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,887 shares of the technology company’s stock after selling 23,973 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Match Group were worth $236,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Eastern Bank bought a new position in shares of Match Group in the 3rd quarter worth about $31,000. Elevation Wealth Partners LLC boosted its position in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock valued at $36,000 after purchasing an additional 884 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Match Group during the 2nd quarter valued at about $76,000. Parallel Advisors LLC boosted its position in shares of Match Group by 31.4% during the 1st quarter. Parallel Advisors LLC now owns 3,385 shares of the technology company’s stock valued at $104,000 after purchasing an additional 808 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Match Group by 143.1% during the third quarter. Signaturefd LLC now owns 3,236 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,905 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 Stephen Bailey sold 4,760 shares of Match Group stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the transaction, the director directly owned 11,742 shares of the company’s stock, valued at $496,216.92. The trade was a 28.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mcdaniel sold 3,531 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the sale, the director owned 26,839 shares of the company’s stock, valued at approximately $1,138,778.77. The trade was a 11.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,291 shares of company stock valued at $976,478 over the last quarter. 0.71% of the stock is owned by insiders.

Match Group News Summary

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

• Positive Sentiment: Citigroup said Match Group’s shares were expected to rise, while Barclays and Truist Financial raised their price targets. UBS also forecast strong potential appreciation, providing a positive counterweight to the downgrade. Citigroup analyst coverage Barclays price target Truist price target UBS forecast
• Neutral Sentiment: Match Group’s Q3 earnings-call presentation was published, but the headline provided no new details on results or guidance. The supplied earnings figures show EPS modestly beat estimates, while revenue was slightly below consensus and down year over year. Q3 earnings-call presentation
• Negative Sentiment: A separate analyst downgrade was reported alongside a 5.9% drop in Match Group shares, signaling that more cautious views are weighing on sentiment despite the price-target increases. Analyst downgrade and share decline

Match Group Stock Performance

Shares of MTCH opened at $39.03 on Friday. The firm has a market capitalization of $8.96 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.57 and a beta of 1.47. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $46.67. The stock has a 50 day moving average price of $42.07 and a two-hundred day moving average price of $36.69.

Match Group (NASDAQ:MTCH) last posted its earnings results on Monday, November 2nd. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $891.23 million for the quarter, compared to analyst estimates of $892.45 million. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. On average, equities analysts forecast that Match Group Inc. will post 3.19 earnings per share for the current year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 21st. Shareholders of record on Wednesday, January 6th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, January 6th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s dividend payout ratio (DPR) is 27.21%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MTCH shares. Morgan Stanley set a $40.00 target price on Match Group in a report on Wednesday, August 5th. UBS Group increased their price target on Match Group from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, November 3rd. Citigroup raised their price objective on shares of Match Group from $39.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Evercore raised shares of Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Monday, October 19th. Finally, Weiss Ratings upgraded shares of Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.64.

About Match Group

Match Group, Inc is a global provider of online dating products and services. Its portfolio includes Tinder, Hinge, Match, OkCupid, Plenty of Fish, Meetic, and OurTime, among other brands. These services help people meet and build relationships through mobile apps and websites, with features and subscription options that vary by brand and market.

The company serves users in countries around the world. Its brands are designed for different audiences and dating preferences, from broad-based platforms to services focused on particular age groups or regions.

Match Group traces its roots to Match.com, which launched in 1995.