Fieldview Capital Management LLC Invests $1.80 Million in Match Group Inc. $MTCH

Key Points

• Fieldview Capital Management bought a new stake of 51,042 shares in Match Group (NASDAQ:MTCH) during Q3, valued at about $1.80 million, and institutional investors now own roughly 94.05% of the company as several large funds (Ameriprise, LSV, Norges Bank, Edmond de Rothschild, Neuberger Berman) boosted positions.
• Match Group reported quarterly EPS of $0.83, missing the $1.00 consensus while revenue of $878.0M slightly beat estimates; analysts hold a consensus rating of Hold with an average target of $35.86 (5 Buy, 11 Hold).
• The company increased its quarterly dividend to $0.20 (annualized $0.80), yielding about 2.6%, with an ex-dividend date of April 7 and payment on April 21.

Fieldview Capital Management LLC bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 51,042 shares of the technology company's stock, valued at approximately $1,803,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MTCH shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Match Group in a research note on Thursday, January 22nd. UBS Group set a $34.00 target price on shares of Match Group in a research note on Wednesday, February 4th. Truist Financial lowered their price target on shares of Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a report on Wednesday, February 4th. Morgan Stanley set a $35.00 price target on shares of Match Group in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Match Group from $33.00 to $31.00 and set a "neutral" rating on the stock in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus target price of $35.86.

Match Group Stock Up 2.1%

MTCH stock opened at $31.11 on Tuesday. The stock's 50 day moving average is $31.40 and its two-hundred day moving average is $33.23. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The company has a market capitalization of $7.34 billion, a PE ratio of 13.07, a P/E/G ratio of 0.49 and a beta of 1.30.

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

Match Group Increases Dividend

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

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.

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