Fifth Third Bancorp Boosts Stake in Match Group Inc. $MTCH

Fifth Third Bancorp increased its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 1,608.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,306 shares of the technology company’s stock after purchasing an additional 109,497 shares during the quarter. Fifth Third Bancorp’s holdings in Match Group were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTCH. Wells Fargo & Company lifted their price target on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Truist Financial set a $37.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Morgan Stanley increased their price objective 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. TD Cowen raised their target price on shares of Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Six equities research 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 a consensus rating of “Hold” and a consensus price target of $41.29.

Insider Transactions at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the business’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 transaction of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.71% of the company’s stock.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $39.15 on Monday. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.63 and a beta of 1.30. The stock’s 50-day simple moving average is $36.46 and its two-hundred day simple moving average is $33.72. Match Group Inc. has a 52-week low of $28.81 and a 52-week 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 negative return on equity of 307.45% and a net margin of 18.83%.The business had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same period in the previous year, the company posted $0.44 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a $0.20 dividend. 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 2.0%. Match Group’s dividend payout ratio (DPR) is presently 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.