Evolve Private Wealth LLC Acquires 73,427 Shares of Match Group Inc. $MTCH

Evolve Private Wealth LLC raised its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 319.4% in the first quarter, Holdings Channel.com reports. The firm owned 96,419 shares of the technology company’s stock after buying an additional 73,427 shares during the period. Evolve Private Wealth LLC’s holdings in Match Group were worth $2,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTCH. Woodline Partners LP bought a new position in shares of Match Group during the first quarter valued at about $662,000. Northwestern Mutual Wealth Management Co. lifted its position 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 stake in shares of Match Group by 45.9% in 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 during the last quarter. Amundi boosted its stake in shares of Match Group by 1,477.6% in 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 last quarter. Finally, Cresset Asset Management LLC bought a new position in shares of Match Group in the second quarter valued at approximately $298,000. 94.05% of the stock is owned by institutional investors.

Insider Activity

In other Match Group 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 in the company, valued at $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 available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

MTCH has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Truist Financial set a $37.00 target price on Match Group in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 price target on shares of Match Group in a report on Wednesday, May 6th. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, TD Cowen increased their price target on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.07.

Match Group Price Performance

NASDAQ:MTCH opened at $35.45 on Monday. 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 $35.56 and its two-hundred day moving average price is $33.04. The company has a market cap of $8.27 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.57 and a beta of 1.33.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business 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 company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, analysts expect that Match Group Inc. will post 3.11 earnings per share for the current fiscal 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 is Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Match Group’s dividend payout ratio (DPR) is 30.53%.

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.