87,650 Shares in Match Group Inc. $MTCH Bought by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors purchased 87,650 Match Group shares worth approximately $3.34 million, while institutional investors collectively own 94.05% of the company. A Match Group director also bought 3,000 shares for about $109,890.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, though revenue fell 1.2% year over year to $853.11 million. Shares opened at $40.35, near their 52-week high of $41.40.
• The company declared a quarterly dividend of $0.20 per share, representing an annualized payout of $0.80 and a 2.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $41.54.

Great Lakes Advisors LLC purchased a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 87,650 shares of the technology company's stock, valued at approximately $3,335,000.

A number of other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc lifted its holdings in Match Group by 1.9% during the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company's stock worth $588,000 after buying an additional 289 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock valued at $317,000 after purchasing an additional 311 shares during the period. Bollard Group LLC increased its position in shares of Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock worth $1,625,000 after acquiring an additional 322 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Match Group by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock worth $133,000 after purchasing an additional 326 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after buying an additional 356 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Match Group

In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost 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. This represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.71% of the company's stock.

Match Group Stock Performance

Shares of Match Group stock opened at $40.35 on Friday. The firm has a 50-day moving average of $37.89 and a 200-day moving average of $34.84. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $41.40. The stock has a market cap of $9.26 billion, a PE ratio of 14.26, a PEG ratio of 0.58 and a beta of 1.30.

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

Match Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. Match Group's dividend payout ratio (DPR) is currently 28.27%.

Analyst Ratings Changes

Several brokerages have issued reports on MTCH. Wells Fargo & Company lifted their price target on shares of Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Barclays raised their target price on shares of Match Group from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $40.00 target price on shares of Match Group in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.54.

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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