GSA Capital Partners LLP Acquires 38,502 Shares of Match Group Inc. $MTCH

GSA Capital Partners LLP increased its holdings in Match Group Inc. (NASDAQ:MTCH) by 327.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 50,252 shares of the technology company’s stock after purchasing an additional 38,502 shares during the period. GSA Capital Partners LLP’s holdings in Match Group were worth $1,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Match Group during the 3rd quarter valued at $25,000. Root Financial Partners LLC bought a new position in Match Group in the 3rd quarter worth about $27,000. Employees Retirement System of Texas purchased a new position in Match Group during the 2nd quarter valued at about $28,000. Caldwell Trust Co bought a new stake in shares of Match Group during the second quarter valued at about $32,000. Finally, Quent Capital LLC purchased a new stake in shares of Match Group in the third quarter worth about $37,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Down 1.0%

Shares of MTCH opened at $30.18 on Wednesday. The stock has a market capitalization of $7.12 billion, a P/E ratio of 12.68, a PEG ratio of 0.58 and a beta of 1.32. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The firm has a fifty day simple moving average of $31.86 and a two-hundred day simple moving average of $33.79.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.17). The business had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Sell-side analysts expect that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio (DPR) is 33.61%.

Insider Transactions at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was purchased at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the acquisition, the chief executive officer owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday, February 4th. UBS Group set a $34.00 price target on shares of Match Group in a report on Wednesday, February 4th. Wells Fargo & Company dropped their price objective on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Wolfe Research set a $43.00 target price on Match Group and gave the stock an “outperform” rating in a research report on Monday, January 5th. Finally, Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.86.

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.