Public Sector Pension Investment Board Trims Stake in Match Group Inc. $MTCH

Public Sector Pension Investment Board cut its stake in Match Group Inc. (NASDAQ:MTCH) by 67.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,287 shares of the technology company’s stock after selling 183,628 shares during the quarter. Public Sector Pension Investment Board’s holdings in Match Group were worth $3,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Match Group in the 2nd quarter valued at $134,429,000. Jupiter Asset Management Ltd. raised its position in shares of Match Group by 15,523.3% in the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock worth $107,751,000 after acquiring an additional 3,465,877 shares during the period. LSV Asset Management raised its position in shares of Match Group by 106.2% in the second quarter. LSV Asset Management now owns 3,462,831 shares of the technology company’s stock worth $106,967,000 after acquiring an additional 1,783,256 shares during the period. Callodine Capital Management LP boosted its stake in shares of Match Group by 67.3% during the 2nd quarter. Callodine Capital Management LP now owns 1,355,000 shares of the technology company’s stock worth $41,856,000 after acquiring an additional 545,000 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Match Group by 21.2% during the 2nd quarter. Bank of America Corp DE now owns 2,908,669 shares of the technology company’s stock valued at $89,849,000 after acquiring an additional 507,901 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

NASDAQ MTCH opened at $31.83 on Friday. The business has a fifty day moving average price of $31.72 and a 200 day moving average price of $33.73. The company has a market cap of $7.51 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.61 and a beta of 1.32. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20.

Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). The business had revenue of $878.01 million for 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%.Match Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. As a group, sell-side analysts predict that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be paid a $0.20 dividend. This is a positive change from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. Match Group’s dividend payout ratio is 31.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MTCH shares. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, February 4th. Evercore reduced their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, November 5th. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. UBS Group set a $34.00 price target on shares of Match Group in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Match Group has an average rating of “Hold” and a consensus target price 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.