Match Group Inc. $MTCH Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in Match Group Inc. (NASDAQ:MTCH) by 62.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,965 shares of the technology company’s stock after selling 17,903 shares during the quarter. Ritholtz Wealth Management’s holdings in Match Group were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MTCH. Fieldview Capital Management LLC purchased a new position in Match Group in the third quarter valued at $1,803,000. Russell Investments Group Ltd. raised its stake in shares of Match Group by 58.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,217,999 shares of the technology company’s stock worth $43,020,000 after buying an additional 448,568 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Match Group by 22.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 625,638 shares of the technology company’s stock worth $20,202,000 after buying an additional 115,852 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Match Group during the 4th quarter valued at approximately $1,299,000. Finally, Picton Mahoney Asset Management purchased a new position in shares of Match Group during the 3rd quarter valued at approximately $1,863,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Match Group stock opened at $38.25 on Thursday. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $39.20. The company’s 50 day simple moving average is $35.98 and its 200-day simple moving average is $33.20.

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

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Match Group’s dividend payout ratio is currently 30.53%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial set a $37.00 price target on shares of Match Group in a report on Wednesday, May 6th. Morgan Stanley lifted their target price on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Citigroup upped their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus price target of $41.07.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

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.