28,569,112 Shares in Match Group Inc. $MTCH Purchased by BlackRock Inc.

BlackRock Inc. bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,569,112 shares of the technology company's stock, valued at approximately $1,087,055,000. BlackRock Inc. owned approximately 12.25% of Match Group at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Woodline Partners LP bought a new position in Match Group in the 1st quarter valued at $662,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Match Group by 20.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock valued at $162,000 after purchasing an additional 891 shares during the last quarter. First Trust Advisors LP grew its position in shares of Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock worth $20,070,000 after buying an additional 204,472 shares during the period. Amundi grew its position in shares of Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company's stock worth $11,637,000 after buying an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC bought a new stake in shares of Match Group during the second quarter worth approximately $298,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTCH shares. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Royal Bank Of Canada increased their price target on shares of Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Truist Financial lifted their price objective on shares of Match Group from $37.00 to $41.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. TD Cowen decreased their price objective on shares of Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Finally, Citigroup upped their target price on shares of Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. One research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.54.

Insider Buying and Selling

In related news, Director Glenn Schiffman purchased 3,000 shares of Match Group stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the transaction, the director owned 56,370 shares of the company's stock, valued at approximately $2,064,833.10. This represents a 5.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company's stock.

Match Group Trading Up 1.3%

Shares of NASDAQ MTCH opened at $40.87 on Friday. 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. The business's 50 day moving average is $38.01 and its 200-day moving average is $34.88. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $41.40.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping 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 analysts' expectations of $857.77 million. During the same quarter last year, the business earned $0.49 earnings per share. Match Group's revenue was down 1.2% on a year-over-year basis. Analysts forecast that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

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

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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