Arrowstreet Capital Limited Partnership Has $214.50 Million Position in Match Group Inc. $MTCH

Arrowstreet Capital Limited Partnership cut its stake in Match Group Inc. (NASDAQ:MTCH) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,984,620 shares of the technology company’s stock after selling 510,059 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Match Group were worth $214,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after buying an additional 848 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Match Group during the third quarter valued at approximately $28,000. Whittier Trust Co. increased its holdings 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 valued at $29,000 after acquiring an additional 431 shares in the last quarter. Parkside Financial Bank & Trust raised 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 during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Match Group in the 4th quarter worth $38,000. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MTCH shares. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Barclays increased their price target on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Citigroup lifted their target price on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Match Group has a consensus rating of “Hold” and a consensus target price of $41.29.

Insider Activity at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

Match Group Stock Performance

MTCH stock opened at $37.91 on Friday. The business’s 50-day moving average is $36.72 and its two-hundred day moving average is $33.92. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 0.60 and a beta of 1.30. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $41.03.

Match Group (NASDAQ:MTCH) last issued its earnings results 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 the consensus estimate of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. Match Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Equities analysts predict that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Announces Dividend

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