Arrowstreet Capital Limited Partnership Decreases Stock Position in Match Group Inc. $MTCH

Key Points

• Arrowstreet Capital reduced its Match Group stake by 6.8% in the first quarter, selling 510,059 shares and ending with 6,984,620 shares valued at about $214.5 million.
• Match Group recently beat quarterly earnings and revenue expectations, reporting $0.68 EPS versus $0.61 expected and revenue of $863.93 million, up 3.9% year over year.
• The company also paid a quarterly dividend of $0.20 per share, while analysts currently have an average Hold rating on the stock with a consensus price target of $41.29.

Arrowstreet Capital Limited Partnership lowered its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,984,620 shares of the technology company's stock after selling 510,059 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.99% of Match Group worth $214,498,000 at the end of the most recent reporting period.

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

Match Group Trading Up 1.4%

MTCH opened at $37.91 on Friday. The stock's 50 day simple moving average is $36.72 and its 200-day simple moving average is $33.92. The stock has a market cap of $8.84 billion, a PE ratio of 14.47, a P/E/G ratio of 0.60 and a beta of 1.30. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.03.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The company had revenue of $863.93 million during the quarter, compared to analysts' expectations of $854.70 million. During the same quarter in the prior year, the company posted $0.44 EPS. The business's revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 7th. Match Group's dividend payout ratio is presently 30.53%.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director directly owned 16,218 shares in the company, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several recent research reports. Wall Street Zen raised Match Group from a "hold" rating to a "buy" rating in a report on Sunday, April 26th. Weiss Ratings upgraded Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Piper Sandler set a $51.00 price target on Match Group in a report on Wednesday, May 6th. Royal Bank Of Canada increased their target price on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley boosted their price objective on Match Group from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Match Group currently has an average rating of "Hold" and an average target price of $41.29.

About Match Group

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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