Vanguard Group Inc. Cuts Stock Position in Match Group Inc. $MTCH

Vanguard Group Inc. trimmed its position in shares of Match Group Inc. (NASDAQ:MTCH) by 0.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,217,821 shares of the technology company’s stock after selling 102,898 shares during the period. Vanguard Group Inc. owned about 12.14% of Match Group worth $1,031,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MTCH. Norges Bank bought a new position in Match Group during the second quarter valued at approximately $134,429,000. Jupiter Asset Management Ltd. boosted its stake in shares of Match Group by 15,523.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after purchasing an additional 3,465,877 shares in the last quarter. LSV Asset Management grew its holdings in shares of Match Group by 106.2% during the 2nd quarter. LSV Asset Management now owns 3,462,831 shares of the technology company’s stock valued at $106,967,000 after purchasing an additional 1,783,256 shares during the last quarter. Callodine Capital Management LP raised its position in Match Group by 67.3% in the 2nd quarter. Callodine Capital Management LP now owns 1,355,000 shares of the technology company’s stock worth $41,856,000 after purchasing an additional 545,000 shares during the period. Finally, Bank of America Corp DE lifted its stake in Match Group by 21.2% in the second quarter. Bank of America Corp DE now owns 2,908,669 shares of the technology company’s stock worth $89,849,000 after purchasing an additional 507,901 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

MTCH opened at $31.83 on Friday. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The business has a 50 day simple moving average of $31.72 and a two-hundred day simple moving average of $33.73. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.61 and a beta of 1.32.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The business had revenue of $878.01 million for the quarter, compared to analysts’ expectations of $872.86 million. During the same period last year, the firm posted $0.59 earnings per share. Match Group’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be issued a $0.20 dividend. This is a boost from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, April 7th. This represents a $0.80 annualized dividend and a yield of 2.5%. Match Group’s dividend payout ratio (DPR) is currently 31.93%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MTCH shares. TD Cowen reduced their price objective on Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Raymond James Financial restated a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Wells Fargo & Company lowered their price objective on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.86.

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.