232,102 Shares in Match Group Inc. $MTCH Bought by Alps Advisors Inc.

Key Points

• Alps Advisors initiated a position in Match Group, buying 232,102 shares worth approximately $9.3 million, or about 0.10% of the company.
• Institutional investors own 94.05% of Match Group; several large funds also established or increased holdings.
• Match Group’s latest reported quarter beat EPS estimates ($0.73 versus $0.71), but revenue slightly missed consensus and declined 2.5% year over year. Analysts’ average rating was “Moderate Buy,” with a $45.64 average price target.

Alps Advisors Inc. bought a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 232,102 shares of the technology company's stock, valued at approximately $9,319,000. Alps Advisors Inc. owned about 0.10% of Match Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MTCH. BlackRock Inc. purchased a new stake in shares of Match Group during the second quarter worth about $1,087,055,000. Edmond DE Rothschild Holding S.A. bought a new position in Match Group during the 2nd quarter valued at approximately $154,811,000. Renaissance Technologies LLC raised its position in Match Group by 196.6% during the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company's stock valued at $98,099,000 after purchasing an additional 2,117,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Match Group by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,183,576 shares of the technology company's stock worth $97,761,000 after buying an additional 92,364 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Match Group by 11.8% in the 1st quarter. Bank of America Corp DE now owns 3,054,114 shares of the technology company's stock worth $93,792,000 after buying an additional 323,006 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Performance

Match Group stock opened at $39.03 on Friday. The stock's 50 day simple moving average is $42.07 and its two-hundred day simple moving average is $36.69. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.57 and a beta of 1.47. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $46.67.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Monday, November 2nd. The technology company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. The firm had revenue of $891.23 million for the quarter, compared to the consensus estimate of $892.45 million. During the same quarter in the prior year, the business earned $0.62 EPS. The business's revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts predict that Match Group Inc. will post 3.19 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 21st. Investors of record on Wednesday, January 6th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, January 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. Match Group's payout ratio is currently 27.21%.

Key Stories Impacting Match Group

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Citigroup said Match Group’s shares were expected to rise, while Barclays and Truist Financial raised their price targets. UBS also forecast strong potential appreciation, providing a positive counterweight to the downgrade. Citigroup analyst coverage Barclays price target Truist price target UBS forecast
• Neutral Sentiment: Match Group’s Q3 earnings-call presentation was published, but the headline provided no new details on results or guidance. The supplied earnings figures show EPS modestly beat estimates, while revenue was slightly below consensus and down year over year. Q3 earnings-call presentation
• Negative Sentiment: A separate analyst downgrade was reported alongside a 5.9% drop in Match Group shares, signaling that more cautious views are weighing on sentiment despite the price-target increases. Analyst downgrade and share decline

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Match Group from $41.00 to $44.00 and gave the stock a "hold" rating in a research report on Tuesday, November 3rd. Barclays upped their target price on Match Group from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday, November 3rd. Weiss Ratings raised Match Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Citigroup lifted their price target on shares of Match Group from $39.00 to $45.00 and gave the company a "neutral" rating in a report on Tuesday, November 3rd. Finally, Evercore upgraded shares of Match Group from a "cautious" rating to an "outperform" rating and set a $53.00 price target on the stock in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $45.64.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 4,760 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total value of $201,157.60. Following the sale, the director directly owned 11,742 shares of the company's stock, valued at $496,216.92. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction 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 completion of the transaction, the director owned 26,839 shares of the company's stock, valued at approximately $1,138,778.77. This trade represents a 11.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,291 shares of company stock valued at $976,478 in the last three months. Company insiders own 0.71% of the company's stock.

About Match Group

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.

Match Group traces its roots to Match.com, which launched in 1995.

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