Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 22,432 Match Group Inc. $MTCH

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Match Group Inc. (NASDAQ:MTCH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,432 shares of the technology company’s stock, valued at approximately $689,000.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Match Group in the 3rd quarter worth approximately $28,000. Activest Wealth Management lifted its position in Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after acquiring an additional 848 shares during the last quarter. Whittier Trust Co. increased its position in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after purchasing an additional 431 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Match Group during the 4th quarter valued at $38,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm’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 value of $184,767.54. Following the transaction, the director directly owned 16,218 shares of the company’s stock, valued at $582,874.92. This trade represents a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Match Group Price Performance

Match Group stock opened at $40.29 on Friday. The stock has a market capitalization of $9.40 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The business has a 50 day simple moving average of $36.42 and a 200-day simple moving average of $33.67. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.03.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The firm had revenue of $863.93 million for the quarter, compared to analysts’ expectations of $854.70 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Match Group Inc. will post 3.11 EPS 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial set a $37.00 target price on Match Group in a research note on Wednesday, May 6th. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.29.

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.