Crossmark Global Holdings Inc. Purchases 63,989 Shares of Match Group Inc. $MTCH

Key Points

• Crossmark Global Holdings boosted its stake in Match Group by 437.9% in Q3, buying 63,989 shares to hold 78,603 shares worth about $2.78 million.
• Match Group reported quarterly EPS of $0.83 vs. $1.00 expected (a miss) while revenue was $878.0 million, up 2.1% year-over-year and slightly above estimates.
• The company raised its quarterly dividend to $0.20 (annualized $0.80, ~2.6% yield); the stock trades near $30.47 with a market cap of $7.19 billion and carries a consensus analyst rating of "Hold."

Crossmark Global Holdings Inc. grew its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 437.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,603 shares of the technology company's stock after buying an additional 63,989 shares during the period. Crossmark Global Holdings Inc.'s holdings in Match Group were worth $2,776,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MTCH. Ameriprise Financial Inc. increased its holdings in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock worth $385,590,000 after acquiring an additional 162,330 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Match Group by 7.8% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company's stock valued at $180,798,000 after purchasing an additional 424,232 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Match Group by 7.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,287,202 shares of the technology company's stock valued at $163,322,000 after purchasing an additional 349,963 shares during the period. LSV Asset Management increased its stake in Match Group by 37.8% during the 3rd quarter. LSV Asset Management now owns 4,770,780 shares of the technology company's stock worth $168,504,000 after purchasing an additional 1,307,949 shares in the last quarter. Finally, Norges Bank bought a new stake in Match Group during the 2nd quarter worth approximately $134,429,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Stock Down 2.7%

NASDAQ MTCH opened at $30.47 on Friday. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The company has a market capitalization of $7.19 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. The firm's 50 day moving average is $31.42 and its 200-day moving average is $33.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.17). The business had revenue of $878.01 million during the quarter, compared to the consensus estimate of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. As a group, sell-side analysts expect that Match Group Inc. will post 2.44 EPS for the current year.

Match Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Match Group's previous quarterly dividend of $0.19. Match Group's dividend payout ratio (DPR) is currently 31.93%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial cut their price target on shares of Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a research note on Wednesday, February 4th. TD Cowen dropped their price objective on shares of Match Group from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, February 4th. Wolfe Research set a $43.00 price objective on shares of Match Group and gave the company an "outperform" rating in a research report on Monday, January 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $37.00 target price on shares of Match Group in a research note on Wednesday, December 10th. Finally, JPMorgan Chase & Co. lowered their target price on Match Group from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $35.86.

Match Group Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.