Engineers Gate Manager LP Sells 45,849 Shares of Match Group Inc. $MTCH

Key Points

• Engineers Gate Manager LP cut its Match Group stake by 67.7% in the second quarter, selling 45,849 shares and retaining 21,891 shares valued at approximately $833,000.
• Institutional investors own 94.05% of Match Group, while insiders have sold 23,291 shares worth about $976,478 over the past 90 days.
• Match Group reported quarterly EPS of $0.70, beating estimates, and announced a $0.20 quarterly dividend. The stock opened at $43.20, near its 52-week high, while analysts maintain a “Moderate Buy” consensus rating with a $42.46 price target.

Engineers Gate Manager LP lessened its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 67.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,891 shares of the technology company's stock after selling 45,849 shares during the quarter. Engineers Gate Manager LP's holdings in Match Group were worth $833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in shares of Match Group in the 2nd quarter valued at approximately $488,000. Allianz Asset Management GmbH acquired a new stake in Match Group during the 2nd quarter worth approximately $2,459,000. Corient Private Wealth LP raised its holdings in Match Group by 25.5% during the 2nd quarter. Corient Private Wealth LP now owns 136,480 shares of the technology company's stock worth $5,193,000 after buying an additional 27,750 shares during the period. Amundi lifted its stake in Match Group by 83.0% in the second quarter. Amundi now owns 68,859 shares of the technology company's stock valued at $2,620,000 after buying an additional 31,233 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Match Group in the second quarter valued at approximately $1,910,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Match Group news, CAO Philip Eigenmann sold 15,000 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the sale, the chief accounting officer directly owned 19,389 shares of the company's stock, valued at approximately $808,521.30. This represents a 43.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the sale, the director owned 26,839 shares of the company's stock, valued at approximately $1,138,778.77. This represents a 11.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,291 shares of company stock valued at $976,478 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

Match Group Stock Performance

MTCH opened at $43.20 on Monday. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $44.94. The firm has a market capitalization of $9.92 billion, a PE ratio of 15.27, a PEG ratio of 0.63 and a beta of 1.32. The business's 50-day simple moving average is $40.09 and its 200 day simple moving average is $36.48.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business's revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. On average, research analysts forecast that Match Group Inc. will post 3.31 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group's payout ratio is presently 28.27%.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research reports. Morgan Stanley set a $40.00 target price on Match Group in a report on Wednesday, August 5th. Susquehanna restated a "positive" rating on shares of Match Group in a report on Wednesday, August 5th. Zacks Research raised Match Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Match Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their target price on Match Group from $38.00 to $41.00 and gave the company 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.com, Match Group has a consensus rating of "Moderate Buy" and a consensus price target of $42.46.

Match Group Profile

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.

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