Match Group Inc. $MTCH Stake Lessened by Citigroup Inc.

Citigroup Inc. reduced its position in shares of Match Group Inc. (NASDAQ:MTCH) by 31.1% in the third quarter, HoldingsChannel.com reports. The firm owned 390,299 shares of the technology company’s stock after selling 175,841 shares during the period. Citigroup Inc.’s holdings in Match Group were worth $13,785,000 at the end of the most recent reporting period.

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

Match Group Trading Down 1.9%

NASDAQ MTCH opened at $31.60 on Friday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The firm’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $33.58. The company has a market capitalization of $7.46 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.32.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The firm had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. During the same quarter last year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts predict that Match Group Inc. will post 2.44 EPS for the current year.

Match Group Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wolfe Research set a $43.00 price objective on Match Group and gave the company an “outperform” rating in a research report on Monday, January 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Thursday, January 22nd. Finally, Wells Fargo & Company dropped their target price on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.86.

About Match Group

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.