Bellwether Advisors LLC Takes $1.96 Million Position in Match Group Inc. $MTCH

Bellwether Advisors LLC purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,551 shares of the technology company’s stock, valued at approximately $1,962,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Woodline Partners LP purchased a new position in Match Group during the 1st quarter worth $662,000. Envestnet Asset Management Inc. boosted its holdings in Match Group by 5.4% during the second quarter. Envestnet Asset Management Inc. now owns 583,733 shares of the technology company’s stock worth $18,032,000 after purchasing an additional 30,134 shares during the last quarter. iA Global Asset Management Inc. grew its position in Match Group by 116.5% in the 2nd quarter. iA Global Asset Management Inc. now owns 31,503 shares of the technology company’s stock worth $973,000 after purchasing an additional 16,955 shares in the last quarter. Bank of Montreal Can increased its stake in Match Group by 986.7% in the 2nd quarter. Bank of Montreal Can now owns 108,639 shares of the technology company’s stock valued at $3,356,000 after buying an additional 98,642 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Match Group by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,802,246 shares of the technology company’s stock worth $55,671,000 after buying an additional 53,221 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Performance

Shares of MTCH opened at $30.80 on Wednesday. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The business has a 50-day moving average of $31.54 and a 200 day moving average of $33.41. The firm has a market cap of $7.27 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share 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 the consensus estimate 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 revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, research analysts predict that Match Group Inc. will post 2.44 earnings per share 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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. Match Group’s payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTCH. UBS Group set a $34.00 price target on Match Group in a research report on Wednesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Wolfe Research set a $43.00 target price on Match Group and gave the stock an “outperform” rating in a research note on Monday, January 5th. Truist Financial cut their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, February 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Match Group presently has an average rating of “Hold” and an average 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.