Proficio Capital Partners LLC Buys New Shares in Match Group Inc. $MTCH

Proficio Capital Partners LLC acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,158 shares of the technology company’s stock, valued at approximately $653,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTCH. Principal Financial Group Inc. raised its stake in shares of Match Group by 338.3% in the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock valued at $35,124,000 after acquiring an additional 882,821 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Match Group by 97.2% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock worth $47,574,000 after buying an additional 763,764 shares during the period. Bank of America Corp DE lifted its holdings in Match Group by 11.8% during the first quarter. Bank of America Corp DE now owns 3,054,114 shares of the technology company’s stock worth $93,792,000 after acquiring an additional 323,006 shares in the last quarter. Swedbank AB increased its position in shares of Match Group by 22.3% during the fourth quarter. Swedbank AB now owns 816,800 shares of the technology company’s stock worth $26,374,000 after acquiring an additional 148,700 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Match Group by 131.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 45,280 shares of the technology company’s stock valued at $1,391,000 after purchasing an additional 25,722 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Match Group

In other news, Director Glenn Schiffman acquired 3,000 shares of the business’s stock in a transaction that occurred 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 $2,064,833.10. The trade was a 5.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.71% of the company’s stock.

Match Group Stock Down 0.3%

NASDAQ:MTCH opened at $42.07 on Thursday. The firm has a market capitalization of $9.66 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $42.49. The stock’s 50-day simple moving average is $38.38 and its 200 day simple moving average is $35.16.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, analysts anticipate that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler set a $51.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Morgan Stanley set a $40.00 price objective on shares of Match Group in a research note on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Citigroup boosted their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Truist Financial raised their price objective on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.46.

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.