California State Teachers Retirement System Purchases 48,996 Shares of Match Group Inc. $MTCH

Key Points

• California State Teachers Retirement System increased its Match Group stake by 22.7%, purchasing 48,996 shares to hold 264,919 shares worth approximately $8.1 million. Institutional investors collectively own 94.05% of the company.
• Match Group’s second-quarter EPS of $0.70 exceeded estimates, and net income rose 36% year over year to $170.5 million. However, revenue declined 1.2% to $853.1 million, reflecting ongoing weakness in Tinder monetization and Azar.
• The company declared a quarterly dividend of $0.20 per share and repurchased about 7.3 million shares for $245 million through June 30. Analysts maintain a consensus “Hold” rating with an average price target of $41.29.

California State Teachers Retirement System lifted its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 22.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264,919 shares of the technology company's stock after buying an additional 48,996 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Match Group worth $8,136,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MTCH. State Street Corp grew its stake in shares of Match Group by 14.6% in the third quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock worth $680,826,000 after acquiring an additional 2,461,025 shares during the period. Ameriprise Financial Inc. grew its stake in Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock valued at $385,590,000 after acquiring an additional 162,330 shares in the last quarter. Starboard Value LP increased its holdings in shares of Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company's stock worth $367,957,000 after purchasing an additional 325,000 shares during the last quarter. Invesco Ltd. boosted its position in shares of Match Group by 9.8% during the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company's stock valued at $316,422,000 after acquiring an additional 872,524 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Match Group by 32.8% in the 4th quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company's stock worth $261,692,000 after buying an additional 2,011,970 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group News Summary

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Match Group reported second-quarter diluted EPS of $0.70, above the consensus estimate of $0.65, while adjusted EBITDA also exceeded management’s expectations. Net income increased 36% year over year to $170.5 million. Match Group Announces Second Quarter Results
• Positive Sentiment: Management said Tinder engagement trends improved, with the year-over-year decline in daily active users narrowing to 4%. Hinge remained a major growth driver, increasing revenue 22% and global monthly active users 13%. Match Group Announces Second Quarter Results
• Positive Sentiment: The company declared a quarterly dividend of $0.20 per share and repurchased approximately 7.3 million shares for $245 million through June 30, supporting shareholder returns. Match Group Q2 Revenue Falls 1% To $853 Million
• Neutral Sentiment: Third-quarter revenue guidance of $885 million to $895 million was broadly near the $891.3 million analyst estimate, suggesting stabilization but limited near-term growth. Match Group Earnings Report
• Negative Sentiment: Second-quarter revenue was $853 million, down roughly 1% year over year and below estimates near $858 million. Sluggish Tinder monetization, product changes intended to improve the user experience, and weaker Azar revenue are weighing on the outlook. One earnings report also cited adjusted EPS of $0.92 versus a $0.97 consensus estimate. Match Group Revenue Falls Short of Estimates

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MTCH. Wells Fargo & Company raised 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. Citigroup raised their price objective on shares of Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Morgan Stanley upped their target price on Match Group from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Barclays increased their target price on Match Group from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Piper Sandler set a $51.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $41.29.

Match Group Trading Up 1.7%

Shares of MTCH stock opened at $41.24 on Wednesday. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.40. The business's fifty day simple moving average is $37.27 and its 200-day simple moving average is $34.29. The company has a market cap of $9.62 billion, a PE ratio of 15.74, a PEG ratio of 0.65 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its earnings results 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. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same period in the prior year, the company posted $0.49 EPS. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that Match Group Inc. will post 3.11 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. Investors 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 dividend on an annualized basis and a dividend yield of 1.9%. Match Group's payout ratio is 30.53%.

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction that occurred 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 completion of the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company's stock.

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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