Foster & Motley Inc. Has $2.15 Million Position in Match Group Inc. $MTCH

Foster & Motley Inc. lifted its holdings in Match Group Inc. (NASDAQ:MTCH) by 43.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,856 shares of the technology company’s stock after acquiring an additional 21,317 shares during the period. Foster & Motley Inc.’s holdings in Match Group were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Woodline Partners LP bought a new stake in shares of Match Group during the 1st quarter valued at about $662,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after buying an additional 891 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock worth $20,070,000 after buying an additional 204,472 shares in the last quarter. Amundi grew its position in shares of Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after buying an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in shares of Match Group during the 2nd quarter worth approximately $298,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by company insiders.

Match Group Price Performance

Shares of MTCH opened at $37.17 on Friday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $39.20. The stock’s fifty day moving average price is $35.81 and its two-hundred day moving average price is $33.11. The firm has a market cap of $8.67 billion, a PE ratio of 14.19, a PEG ratio of 0.56 and a beta of 1.33.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Sell-side analysts anticipate that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.2%. Match Group’s payout ratio is 30.53%.

Analyst Ratings Changes

MTCH has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Match Group from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Truist Financial set a $37.00 target price on Match Group in a research note on Wednesday, May 6th. Citigroup upped their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $41.07.

Match Group 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.