252,287 Shares in Match Group Inc. $MTCH Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 252,287 shares of the technology company’s stock, valued at approximately $9,600,000. Manning & Napier Advisors LLC owned 0.11% of Match Group as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Activest Wealth Management boosted its stake in shares of Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC purchased a new stake in Match Group during the 3rd quarter worth $28,000. Whittier Trust Co. lifted its holdings in Match Group by 91.3% in the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after buying an additional 431 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after buying an additional 356 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock valued at $36,000 after buying an additional 884 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Price Performance

Shares of MTCH stock opened at $41.73 on Tuesday. The firm has a market cap of $9.58 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.60 and a beta of 1.30. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $41.79. The firm has a fifty day moving average of $38.13 and a two-hundred day moving average of $34.99.

Match Group (NASDAQ:MTCH) last issued its 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 net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the prior year, the business posted $0.49 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, sell-side analysts expect that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.9%. Match Group’s dividend payout ratio is presently 28.27%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Zacks Research raised Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price objective 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. Finally, Morgan Stanley set a $40.00 price objective on Match Group in a report on Wednesday, August 5th. One investment 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 company. According to data from MarketBeat, Match Group currently has a consensus rating of “Moderate Buy” and an average price target of $42.46.

Insider Transactions at Match Group

In other news, Director Glenn Schiffman bought 3,000 shares of Match Group stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value 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 represents a 5.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

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.