First Trust Advisors LP Has $73.92 Million Position in Match Group Inc. $MTCH

Key Points

• First Trust Advisors LP increased its Match Group stake by 72.7% in the first quarter, ending with 2.41 million shares valued at about $73.9 million.
• Other major institutions also boosted or initiated positions in MTCH, and institutional investors now own 94.05% of the company’s stock.
• Match Group reported quarterly results that beat analyst expectations, with EPS of $0.68 on revenue of $863.93 million, and it also paid a quarterly dividend of $0.20 per share for a 2.1% annualized yield.

First Trust Advisors LP raised its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 72.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,406,923 shares of the technology company's stock after buying an additional 1,013,569 shares during the quarter. First Trust Advisors LP owned 1.03% of Match Group worth $73,917,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Match Group by 1,163.7% during the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company's stock valued at $216,791,000 after purchasing an additional 5,652,174 shares in the last quarter. Norges Bank acquired a new position in shares of Match Group in the 4th quarter worth approximately $112,641,000. State Street Corp boosted its stake in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock valued at $680,826,000 after buying an additional 2,461,025 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Match Group by 58.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company's stock valued at $96,786,000 after buying an additional 1,111,419 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Match Group by 338.3% in the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company's stock valued at $35,124,000 after acquiring an additional 882,821 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MTCH shares. Wells Fargo & Company upped their target price on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 7th. TD Cowen raised their price objective on shares of Match Group from $37.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Barclays raised their price target on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Citigroup boosted their price objective on Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their price target on shares of Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $41.29.

Insider Activity at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction that occurred 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 in the company, valued at $582,874.92. This trade represents a 24.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by company insiders.

Match Group Trading Up 1.4%

Shares of NASDAQ MTCH opened at $37.91 on Friday. The firm has a market capitalization of $8.84 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.03. The firm's 50-day moving average is $36.72 and its 200-day moving average is $33.92.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share 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 business had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same period in the previous year, the firm posted $0.44 earnings per share. Match Group's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Match Group's dividend payout ratio (DPR) is 30.53%.

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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