Match Group Inc. $MTCH Stock Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in Match Group Inc. (NASDAQ:MTCH) by 43.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,308 shares of the technology company’s stock after purchasing an additional 20,193 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Match Group were worth $2,662,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Eastern Bank acquired a new position in shares of Match Group in the 3rd quarter valued at about $31,000. Elevation Wealth Partners LLC grew its holdings in Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after acquiring an additional 884 shares during the period. Fulcrum Asset Management LLP grew its holdings in Match Group by 579.8% during the third quarter. Fulcrum Asset Management LLP now owns 1,754 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,496 shares during the period. Contravisory Investment Management Inc. acquired a new stake in Match Group during the second quarter worth about $76,000. Finally, Parallel Advisors LLC raised its position in Match Group by 31.4% during the first quarter. Parallel Advisors LLC now owns 3,385 shares of the technology company’s stock valued at $104,000 after acquiring an additional 808 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MTCH. Barclays boosted their price target on Match Group from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Morgan Stanley set a $40.00 price objective on Match Group in a research report on Wednesday, August 5th. Susquehanna raised their price objective on shares of Match Group from $45.00 to $50.00 and gave the stock a “positive” rating in a research note on Tuesday, November 3rd. TD Cowen raised their price objective on shares of Match Group from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Finally, Evercore raised shares of Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.64.

Match Group Stock Down 0.4%

Shares of NASDAQ:MTCH traded down $0.15 during trading on Friday, reaching $41.63. 2,707,686 shares of the company’s stock traded hands, compared to its average volume of 4,150,431. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $46.67. The firm has a market cap of $9.56 billion, a PE ratio of 14.16, a P/E/G ratio of 0.64 and a beta of 1.47. The company has a 50-day simple moving average of $41.98 and a 200-day simple moving average of $36.93.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Monday, November 2nd. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $891.23 million during the quarter, compared to analyst estimates of $892.45 million. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. Match Group’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. On average, equities research analysts forecast that Match Group Inc. will post 3.19 EPS for the current year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 21st. Shareholders of record on Wednesday, January 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, January 6th. Match Group’s dividend payout ratio (DPR) is presently 27.21%.

Insiders Place Their Bets

In other Match Group news, Director Glenn Schiffman bought 2,500 shares of Match Group stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $38.83 per share, with a total value of $97,075.00. Following the purchase, the director directly owned 72,059 shares in the company, valued at $2,798,050.97. This represents a 3.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mcdaniel sold 3,531 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the transaction, the director directly owned 26,839 shares of the company’s stock, valued at approximately $1,138,778.77. The trade was a 11.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,291 shares of company stock valued at $976,478 in the last three months. 0.71% of the stock is currently owned by company insiders.

Match Group Company Profile

Match Group, Inc. is a global provider of online dating products and services. Its portfolio includes Tinder, Hinge, Match, OkCupid, Plenty of Fish, Meetic, and OurTime, among other brands. These services help people meet and build relationships through mobile apps and websites, with features and subscription options that vary by brand and market. The company serves users in countries around the world. Its brands are designed for different audiences and dating preferences, from broad-based platforms to services focused on particular age groups or regions.