83,561 Shares in Match Group Inc. $MTCH Acquired by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners acquired 83,561 Match Group shares worth approximately $3.18 million in the second quarter. Institutional investors collectively own 94.05% of the company.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, while revenue of $853.11 million fell slightly short of forecasts and declined 1.2% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.46.

Freestone Grove Partners LP bought a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 83,561 shares of the technology company's stock, valued at approximately $3,179,000.

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

Match Group Price Performance

NASDAQ MTCH opened at $41.58 on Friday. The company has a market capitalization of $9.54 billion, a PE ratio of 14.69, a P/E/G ratio of 0.60 and a beta of 1.30. The company has a fifty day moving average of $38.61 and a 200 day moving average of $35.27. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $42.49.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The business had revenue of $853.11 million during 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 company's revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. Research analysts expect that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's payout ratio is 28.27%.

Insider Activity at Match Group

In other news, Director Glenn Schiffman acquired 3,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the transaction, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Bailey sold 4,760 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total transaction of $201,157.60. Following the sale, the director directly owned 11,742 shares in the company, valued at approximately $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MTCH shares. Truist Financial boosted 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. Susquehanna restated a "positive" rating on shares of Match Group in a research note on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price target on Match Group in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Match Group has an average rating of "Moderate Buy" and an average price target of $42.46.

Match Group 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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