637,067 Shares in Match Group Inc. $MTCH Purchased by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 637,067 shares of the technology company’s stock, valued at approximately $24,240,000.

Several other hedge funds have also bought and sold shares of MTCH. Versant Capital Management Inc increased its holdings in shares of Match Group by 1.9% during the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock valued at $588,000 after purchasing an additional 289 shares in the last quarter. Bessemer Group Inc. grew its position in Match Group by 3.1% during the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares during the period. Bollard Group LLC increased its holdings in Match Group by 0.6% in the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock valued at $1,625,000 after buying an additional 322 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Match Group by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after buying an additional 326 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after acquiring an additional 356 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $40.87 on Friday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.40. The firm has a market capitalization of $9.38 billion, a PE ratio of 14.44, a P/E/G ratio of 0.59 and a beta of 1.30. The business’s 50 day moving average price is $38.01 and its 200-day moving average price is $34.88.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share 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 company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same quarter last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts expect that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is 28.27%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Barclays boosted their price objective on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citigroup upped their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $40.00 price target on shares of Match Group in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.54.

Insiders Place Their Bets

In related news, Director Glenn Schiffman bought 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the acquisition, the director directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

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.