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Empowered Funds LLC Makes New $3.12 Million Investment in Match Group Inc. $MTCH

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Key Points

  • Empowered Funds LLC acquired 82,067 Match Group shares worth approximately $3.12 million in the second quarter, while institutional investors overall own 94.05% of the company.
  • Analyst sentiment remains moderately positive, with Match Group carrying an average “Moderate Buy” rating and a consensus price target of $42.46.
  • Match Group reported quarterly EPS of $0.70, exceeding estimates, despite a 1.2% year-over-year revenue decline. The company also declared a quarterly dividend of $0.20 per share, representing a 1.9% yield.
  • Interested in Match Group? Here are five stocks we like better.

Empowered Funds LLC purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 82,067 shares of the technology company's stock, valued at approximately $3,123,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MTCH. Advisory Services Network LLC purchased a new stake in Match Group during the 3rd quarter worth approximately $28,000. Whittier Trust Co. lifted its holdings in Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock worth $29,000 after buying an additional 431 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Match Group by 53.0% in 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 in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Match Group by 1,319.4% in 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 in the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Match Group by 63.9% during the fourth quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company's stock worth $40,000 after acquiring an additional 489 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MTCH shares. Susquehanna reiterated a "positive" rating on shares of Match Group in a research note on Wednesday, August 5th. Citigroup upped their price target on Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Zacks Research raised Match Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Weiss Ratings raised Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Match Group has an average rating of "Moderate Buy" and an average price target of $42.46.

View Our Latest Research Report on MTCH

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 4,760 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total transaction of $201,157.60. Following the completion of the transaction, the director directly owned 11,742 shares of the company's stock, valued at approximately $496,216.92. This represents a 28.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenn Schiffman acquired 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the transaction, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This represents a 5.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.71% of the stock is owned by company insiders.

Match Group Trading Up 3.1%

Shares of MTCH opened at $41.91 on Wednesday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $42.49. The firm's fifty day simple moving average is $38.86 and its 200-day simple moving average is $35.42. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.59 and a beta of 1.32.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $853.11 million during 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 for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, analysts predict that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's payout ratio is 28.27%.

Key Match Group News

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

Match Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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.

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