Evolve Private Wealth LLC Purchases 73,427 Shares of Match Group Inc. $MTCH

Key Points

• Evolve Private Wealth LLC boosted its Match Group stake by 319.4% in the first quarter, buying an additional 73,427 shares and bringing its total to 96,419 shares valued at about $2.96 million.
• Match Group reported better-than-expected Q1 results, posting $0.68 EPS on $863.93 million in revenue, both above analyst estimates, with revenue up 3.9% year over year.
• The company announced a quarterly dividend of $0.20 per share, and Wall Street currently has a consensus Hold rating on MTCH with an average price target of $41.07.

Evolve Private Wealth LLC increased its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 319.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 96,419 shares of the technology company's stock after purchasing an additional 73,427 shares during the quarter. Evolve Private Wealth LLC's holdings in Match Group were worth $2,961,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MTCH. Activest Wealth Management lifted its stake in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after buying an additional 848 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Match Group during the 3rd quarter worth about $28,000. Rossby Financial LCC grew its stake in Match Group by 126.5% in the 3rd quarter. Rossby Financial LCC now owns 906 shares of the technology company's stock valued at $31,000 after buying an additional 506 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after buying an additional 356 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Match Group in the 4th quarter valued at about $38,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTCH has been the topic of several research reports. 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 report on Wednesday, May 6th. Weiss Ratings upgraded Match Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada boosted their price target on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Citigroup upped their price objective on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Finally, Barclays increased their price objective on Match Group from $49.00 to $51.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of "Hold" and a consensus target price of $41.07.

Match Group Stock Performance

NASDAQ MTCH opened at $35.45 on Monday. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.57 and a beta of 1.33. The company has a 50 day moving average of $35.56 and a 200-day moving average of $33.04. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $39.20.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $863.93 million for the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.Match Group's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities research 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, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group's dividend payout ratio is currently 30.53%.

Insiders Place Their Bets

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the sale, the director directly owned 16,218 shares of the company's stock, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.71% of the company's stock.

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.

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