Bank of New York Mellon Corp Has $81.38 Million Position in Match Group Inc. $MTCH

Bank of New York Mellon Corp cut its stake in Match Group Inc. (NASDAQ:MTCH) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,649,916 shares of the technology company’s stock after selling 347,479 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.14% of Match Group worth $81,379,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MTCH. AQR Capital Management LLC grew its stake in Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock valued at $216,791,000 after buying an additional 5,652,174 shares during the last quarter. Norges Bank acquired a new stake in Match Group during the fourth quarter worth approximately $112,641,000. State Street Corp lifted its position in Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after acquiring an additional 2,461,025 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Match Group during the fourth quarter worth approximately $30,637,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Match Group by 338.3% during the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after acquiring an additional 882,821 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTCH. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Morgan Stanley increased their price target on 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 increased their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Royal Bank Of Canada lifted their price objective on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler set a $51.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.29.

Insider Activity

In other news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 16,218 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Match Group Trading Down 0.7%

NASDAQ:MTCH opened at $38.75 on Wednesday. The stock’s 50-day moving average is $36.59 and its 200-day moving average is $33.81. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $41.03. The stock has a market cap of $9.04 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data 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 business had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. During the same quarter last year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, July 7th. Match Group’s dividend payout ratio is 30.53%.

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.