Fifth Third Bancorp Buys 109,497 Shares of Match Group Inc. $MTCH

Key Points

• Fifth Third Bancorp massively increased its Match Group stake in Q1, buying 109,497 additional shares and lifting its holdings by 1,608.1% to 116,306 shares worth about $3.57 million.
• Match Group’s latest quarterly results topped expectations, with earnings of $0.68 per share versus the $0.61 estimate and revenue of $863.93 million, up 3.9% year over year.
• Analysts remain cautious overall: despite several higher price targets, the stock’s consensus rating is Hold with an average target price of $41.29, while Match Group also declared a quarterly dividend of $0.20 per share.

Fifth Third Bancorp lifted its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 1,608.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,306 shares of the technology company's stock after purchasing an additional 109,497 shares during the period. Fifth Third Bancorp's holdings in Match Group were worth $3,572,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Activest Wealth Management raised its stake in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company's stock worth $28,000 after buying an additional 848 shares in the last quarter. Advisory Services Network LLC bought a new stake in Match Group during the 3rd quarter valued at approximately $28,000. Whittier Trust Co. grew its holdings in shares of 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 acquiring an additional 431 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Match Group by 53.0% during the 4th 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 during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Match Group in the 4th quarter worth approximately $38,000. Institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

MTCH has been the subject of a number of research analyst reports. Citigroup raised their target price on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. TD Cowen upped their price target on Match Group from $37.00 to $44.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. UBS Group increased their price objective on Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on Match Group in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Match Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.29.

Match Group Price Performance

Match Group stock opened at $39.15 on Monday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.03. The company has a market capitalization of $9.13 billion, a P/E ratio of 14.94, a PEG ratio of 0.63 and a beta of 1.30. The stock's 50 day moving average is $36.46 and its 200 day moving average is $33.72.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The business had revenue of $863.93 million during the quarter, compared to analysts' expectations of $854.70 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm's quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Match Group's payout ratio is presently 30.53%.

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group 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 completion of the transaction, the director directly owned 16,218 shares of the company's stock, valued at approximately $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by insiders.

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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