Bank of New York Mellon Corp Makes New Investment in Match Group Inc. $MTCH

Bank of New York Mellon Corp bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,649,034 shares of the technology company's stock, valued at approximately $100,796,000. Bank of New York Mellon Corp owned 1.14% of Match Group at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in Match Group during the 3rd quarter valued at about $28,000. Activest Wealth Management grew its stake in 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. Whittier Trust Co. grew its stake in Match Group by 91.3% in the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock worth $29,000 after acquiring an additional 431 shares in the last quarter. Elevation Wealth Partners LLC increased its position in shares of Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after acquiring an additional 884 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after acquiring an additional 356 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Match Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Zacks Research upgraded Match Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Susquehanna reaffirmed a "positive" rating on shares of Match Group in a research report on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on Match Group in a report on Monday. They issued a "neutral" rating and a $43.00 target price for the company. Finally, Wells Fargo & Company increased their price target on Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.46.

Insider Activity at Match Group

In related news, Director Glenn Schiffman acquired 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the purchase, the director directly owned 56,370 shares of the company's stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.71% of the company's stock.

Match Group Stock Performance

Shares of MTCH opened at $41.73 on Tuesday. The company has a 50 day moving average price of $38.13 and a 200-day moving average price of $34.99. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $41.79. The stock has a market capitalization of $9.58 billion, a PE ratio of 14.75, a PEG ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. Match Group's revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Equities research analysts forecast that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be given a $0.20 dividend. 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 presently 28.27%.

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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