GSA Capital Partners LLP Acquires New Position in Match Group Inc. $MTCH

GSA Capital Partners LLP acquired a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,316 shares of the technology company’s stock, valued at approximately $1,039,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP bought a new position in shares of Match Group in the 1st quarter valued at $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 during the last quarter. First Trust Advisors LP boosted its stake in Match Group by 45.9% in the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after buying an additional 204,472 shares in the last quarter. Amundi boosted its stake in Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after buying an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Match Group in the second quarter valued at about $298,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have commented on MTCH shares. Wells Fargo & Company boosted their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Royal Bank Of Canada raised their price target on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Susquehanna restated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Match Group currently has an average rating of “Moderate Buy” and an average price target of $41.54.

Match Group Trading Down 1.9%

Match Group stock opened at $37.22 on Tuesday. The company has a market capitalization of $8.54 billion, a PE ratio of 13.15, a P/E/G ratio of 0.56 and a beta of 1.30. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.40. The stock has a 50-day moving average price of $37.59 and a two-hundred day moving average price of $34.66.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, analysts predict that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio is 28.27%.

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.