Family Manage LLC Decreases Position in Match Group Inc. $MTCH

Key Points

• Family Manage LLC cut its Match Group stake by 91.9% in the first quarter, selling 106,968 shares and retaining 9,424 shares valued at approximately $289,000. Institutional investors collectively own 94.05% of MTCH.
• Match Group reported quarterly earnings of $0.68 per share, exceeding estimates of $0.61, while revenue rose 3.9% year over year to $863.93 million. The company also paid a quarterly dividend of $0.20 per share, representing a 2.1% yield.
• MTCH shares opened at $38.80, while analysts maintained a generally positive-to-neutral outlook, with an average rating of “Hold” and an average price target of $41.29.

Family Manage LLC lowered its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 91.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,424 shares of the technology company's stock after selling 106,968 shares during the quarter. Family Manage LLC's holdings in Match Group were worth $289,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC acquired a new position in shares of Match Group during the third quarter worth $28,000. Activest Wealth Management grew its holdings in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after purchasing an additional 848 shares in the last quarter. Whittier Trust Co. increased its stake 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 during the period. Parkside Financial Bank & Trust lifted its holdings 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 worth $33,000 after buying an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in Match Group in the 4th quarter worth $38,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Up 2.3%

MTCH stock opened at $38.80 on Tuesday. The firm has a market cap of $9.05 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.61 and a beta of 1.30. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.03. The stock's 50 day simple moving average is $36.77 and its 200 day simple moving average is $33.97.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The firm had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.1%. Match Group's dividend payout ratio is 30.53%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MTCH shares. Royal Bank Of Canada raised their target price on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Piper Sandler set a $51.00 price target on Match Group in a 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, July 15th. TD Cowen lifted their price objective on Match Group from $37.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Finally, Wall Street Zen raised Match Group from a "hold" rating to a "buy" rating in a research report on Sunday, April 26th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Match Group currently has an average rating of "Hold" and an average price target of $41.29.

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director owned 16,218 shares of the company's stock, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is owned by corporate insiders.

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.

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.