Amundi Acquires 31,233 Shares of Match Group Inc. $MTCH

Key Points

• Amundi increased its Match Group stake by 83% in the second quarter, acquiring 31,233 shares for a total holding of 68,859 shares valued at $2.62 million. Institutional investors collectively own 94.05% of the company.
• Match Group exceeded quarterly earnings expectations, reporting $0.70 EPS versus the $0.65 consensus, although revenue fell 1.2% year over year to $853.11 million. Analysts maintain a “Moderate Buy” consensus rating with a $42.46 price target.
• The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 1.9% yield. Recent insider activity was mixed, with a director buying 3,000 shares while insiders collectively sold 23,291 shares over the prior three months.

Amundi grew its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 83.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,859 shares of the technology company's stock after buying an additional 31,233 shares during the period. Amundi's holdings in Match Group were worth $2,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in Match Group during the third quarter worth $28,000. Whittier Trust Co. raised its position in shares of Match Group by 91.3% in 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 during the period. Elevation Wealth Partners LLC raised its position in shares of 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 period. Parkside Financial Bank & Trust lifted its stake in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after buying an additional 356 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Match Group during the 3rd quarter worth about $43,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Glenn Schiffman acquired 3,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was acquired 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 directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Philip Eigenmann sold 15,000 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the sale, the chief accounting officer owned 19,389 shares of the company's stock, valued at $808,521.30. The trade was a 43.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have 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.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $42.39 on Monday. The stock has a market capitalization of $9.73 billion, a P/E ratio of 14.98, a PEG ratio of 0.62 and a beta of 1.32. The stock's fifty day moving average is $39.60 and its 200 day moving average is $36.06. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $43.47.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $857.77 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. Match Group's revenue was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's dividend payout ratio (DPR) is 28.27%.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Weiss Ratings raised Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Truist Financial increased their target price on Match Group from $37.00 to $41.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Susquehanna reissued a "positive" rating on shares of Match Group in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $40.00 price target on Match Group in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.46.

Match Group Company Profile

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.

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