86,101 Shares in Match Group Inc. $MTCH Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 86,101 shares of the technology company’s stock, valued at approximately $3,276,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Activest Wealth Management boosted its holdings in shares of 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 purchasing an additional 848 shares during the period. Advisory Services Network LLC bought a new position in shares of Match Group during the 3rd quarter valued at approximately $28,000. Whittier Trust Co. raised its holdings in Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after buying an additional 431 shares during the period. Parkside Financial Bank & Trust raised its holdings 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 buying an additional 356 shares during the period. Finally, Elevation Wealth Partners LLC lifted its position in Match Group by 1,319.4% in the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after buying an additional 884 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the purchase, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

Match Group Price Performance

Match Group stock opened at $40.87 on Friday. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. The firm has a 50-day moving average of $38.01 and a two-hundred day moving average of $34.88. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.40.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The firm had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. Match Group’s quarterly revenue was down 1.2% on a year-over-year basis. Research analysts expect that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, October 5th. Match Group’s payout ratio is presently 28.27%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MTCH shares. Piper Sandler set a $51.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. UBS Group raised their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. TD Cowen dropped their price target on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and an average price target of $41.54.

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.