252,949 Shares in Match Group Inc. $MTCH Acquired by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management acquired 252,949 Match Group shares worth approximately $9.6 million, making the stock its 15th-largest holding. Institutional investors collectively own 94.05% of Match Group.
• Match Group shares opened at $40.87, near their 12-month high of $41.40. The company recently reported quarterly EPS of $0.70, beating estimates, while revenue declined 1.2% year over year to $853.11 million.
• Match Group announced a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 2.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $41.54.

Landscape Capital Management L.L.C. bought a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 252,949 shares of the technology company's stock, valued at approximately $9,625,000. Match Group accounts for 0.6% of Landscape Capital Management L.L.C.'s portfolio, making the stock its 15th largest holding. Landscape Capital Management L.L.C. owned 0.11% of Match Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Match Group during the second quarter valued at approximately $1,087,055,000. AQR Capital Management LLC boosted its stake in shares of Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company's stock worth $216,791,000 after purchasing an additional 5,652,174 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in Match Group during the 2nd quarter valued at about $154,811,000. Norges Bank purchased a new stake in Match Group in the 4th quarter worth about $112,641,000. Finally, Bank of New York Mellon Corp purchased a new stake in Match Group in the 2nd quarter worth about $100,796,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Trading Up 1.3%

Shares of MTCH opened at $40.87 on Friday. The company's 50-day moving average price is $38.01 and its 200 day moving average price is $34.88. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.40. The firm has a market cap of $9.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.59 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced 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. The company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share. Equities research analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. Match Group's dividend payout ratio is presently 28.27%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MTCH shares. Weiss Ratings raised shares of Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Truist Financial boosted their price target on shares of Match Group from $37.00 to $41.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Piper Sandler set a $51.00 price target on shares of Match Group in a research report on Wednesday, May 6th. TD Cowen dropped their price objective on shares of Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Finally, Barclays lifted their price objective on shares of Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. 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. Based on data from MarketBeat, Match Group has an average rating of "Moderate Buy" and a consensus target price of $41.54.

Insider Activity

In other news, Director Glenn Schiffman acquired 3,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the acquisition, the director owned 56,370 shares of the company's stock, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company's stock.

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.

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