Foster & Motley Inc. Invests $2.85 Million in Match Group Inc. $MTCH

Key Points

• Foster & Motley acquired 74,930 Match Group shares during the second quarter, worth approximately $2.85 million. Institutional investors collectively own 94.05% of the company.
• Analysts maintain a generally positive outlook, with Match Group carrying a “Moderate Buy” consensus rating and an average price target of $41.54.
• Match Group exceeded quarterly EPS expectations ($0.70 versus $0.65) but reported a 1.2% year-over-year revenue decline to $853.11 million. The company also declared a quarterly dividend of $0.20 per share, yielding about 2.1%.

Foster & Motley Inc. acquired a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,930 shares of the technology company's stock, valued at approximately $2,851,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Woodline Partners LP acquired a new position in shares of Match Group in the 1st quarter valued at $662,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock worth $162,000 after purchasing an additional 891 shares during the last quarter. First Trust Advisors LP raised its holdings in Match Group by 45.9% in the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock valued at $20,070,000 after buying an additional 204,472 shares during the period. Amundi raised its holdings in Match Group by 1,477.6% in the 2nd quarter. Amundi now owns 358,709 shares of the technology company's stock valued at $11,637,000 after buying an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC acquired a new position in Match Group in the second quarter valued at about $298,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling

In related news, Director Glenn Schiffman purchased 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the acquisition, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research analyst reports. TD Cowen lowered their price objective on shares of Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Barclays boosted their target price on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Truist Financial upped their price target on Match Group from $37.00 to $41.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley set a $40.00 price objective on Match Group in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Match Group presently has an average rating of "Moderate Buy" and a consensus target price of $41.54.

Match Group Stock Up 3.9%

Match Group stock opened at $38.69 on Wednesday. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $41.40. The firm has a market cap of $8.88 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.56 and a beta of 1.30. The company's 50 day moving average is $37.67 and its two-hundred day moving average is $34.71.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company's quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's payout ratio is presently 28.27%.

Match Group Company 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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