Corient Private Wealth LP Invests $5.02 Million in Match Group Inc. $MTCH

Key Points

• Corient Private Wealth LP acquired 132,039 Match Group shares worth approximately $5.02 million, giving it a 0.06% stake. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive view, with Match Group carrying a “Moderate Buy” consensus rating and an average price target of $42.46; targets cited range from $42 to $43.
• Match Group exceeded quarterly earnings expectations with $0.70 in EPS versus $0.65 expected, though revenue fell 1.2% year over year. The company also announced a quarterly dividend of $0.20 per share, representing a 2.0% annualized yield.

Corient Private Wealth LP purchased a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 132,039 shares of the technology company's stock, valued at approximately $5,024,000. Corient Private Wealth LP owned 0.06% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MTCH. BlackRock Inc. acquired a new position in shares of Match Group in the 2nd quarter valued at approximately $1,087,055,000. AQR Capital Management LLC boosted its position in shares of Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company's stock worth $216,791,000 after acquiring an additional 5,652,174 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Match Group in the second quarter valued at approximately $154,811,000. Norges Bank bought a new position in Match Group in the fourth quarter valued at approximately $112,641,000. Finally, Bank of New York Mellon Corp acquired a new position in Match Group during the second quarter valued at approximately $100,796,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MTCH shares. Zacks Research upgraded Match Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings upgraded Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. began coverage on Match Group in a research note on Monday, August 24th. They issued a "neutral" rating and a $43.00 price objective on the stock. Finally, Royal Bank Of Canada lifted their target price on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $42.46.

Insiders Place Their Bets

In other news, Director Glenn Schiffman purchased 3,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Philip D. Eigenmann sold 15,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $808,521.30. This trade represents a 43.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.71% of the company's stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $40.65 on Tuesday. Match Group Inc. has a one year low of $28.81 and a one year high of $42.49. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.61 and a beta of 1.30. The firm has a 50 day simple moving average of $38.72 and a 200 day simple moving average of $35.34.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analysts' expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company's revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, analysts expect that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's dividend 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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