Glenmede Trust Co. NA Acquires 31,305 Shares of Match Group Inc. $MTCH

Key Points

• Glenmede Trust increased its Match Group stake by 76.6% in the first quarter, acquiring 31,305 additional shares and bringing its holdings to 72,161 shares valued at approximately $2.2 million. Institutional investors collectively own 94.05% of MTCH.
• Match Group beat quarterly EPS expectations, reporting $0.70 versus the $0.65 consensus, but revenue of $853.1 million declined about 1.2% year over year and fell slightly short of estimates.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 and a 2.1% yield. Shares opened at $38.15, while analysts’ consensus rating remained “Hold” with a $41.79 price target.

Glenmede Trust Co. NA grew its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 76.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,161 shares of the technology company's stock after acquiring an additional 31,305 shares during the quarter. Glenmede Trust Co. NA's holdings in Match Group were worth $2,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MTCH. Bessemer Group Inc. increased its position in Match Group by 3.1% during the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock worth $317,000 after purchasing an additional 311 shares in the last quarter. Bollard Group LLC grew its stake in shares of Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock worth $1,625,000 after buying an additional 322 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock worth $133,000 after buying an additional 326 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Match Group by 53.0% during the fourth 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, Aster Capital Management DIFC Ltd lifted its stake in shares of Match Group by 9.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 5,034 shares of the technology company's stock valued at $163,000 after acquiring an additional 421 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling at Match Group

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

Match Group Stock Down 7.5%

Shares of NASDAQ:MTCH opened at $38.15 on Thursday. The firm has a market cap of $8.90 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.66 and a beta of 1.30. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.40. The business has a fifty day simple moving average of $37.31 and a 200 day simple moving average of $34.34.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a negative return on equity of 326.67% and a net margin of 20.17%.The business's revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, equities research analysts expect that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group's dividend payout ratio is 30.53%.

Match Group News Roundup

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Match Group reported second-quarter adjusted EPS of $0.70, above the $0.65 analyst consensus. Net income increased to approximately $170.5 million from $125.5 million a year earlier, while management said adjusted EBITDA exceeded expectations. Match Group Announces Second Quarter Results
• Positive Sentiment: Hinge remained a key growth driver, with revenue up 22% year over year and global monthly active users rising 13%. Tinder’s year-over-year daily-active-user decline narrowed to 4%, suggesting early improvement from product and user-experience changes. Match Group Q2 Earnings and Revenue Report
• Positive Sentiment: The board declared a quarterly dividend of $0.20 per share, payable October 20 to shareholders of record on October 5. Match Group also repurchased approximately 7.3 million shares for $245 million through June. Match Group Q2 Revenue Report
• Neutral Sentiment: Management expects third-quarter revenue of $885 million to $895 million, broadly near the $891.3 million consensus estimate. Tinder Events is planned for expansion to 26 cities by the end of September, part of efforts to improve engagement and monetization. Match Group Third-Quarter Guidance
• Negative Sentiment: Second-quarter revenue was $853.1 million, down about 1% year over year and below the roughly $857.8 million consensus estimate. The miss reinforced concerns that Tinder’s turnaround is not yet translating into stronger sales. Match Group Revenue Miss Report
• Negative Sentiment: Investors remain concerned about declining payers, Tinder monetization pressure, and weaker Azar revenue. Commentary questioning whether artificial-intelligence initiatives can materially reverse the company’s growth slowdown added to the negative sentiment. Analysts have maintained bullish ratings, but at least one price target was reduced to $45 after the results.

Analysts Set New Price Targets

MTCH has been the topic of a number of research reports. Wall Street Zen upgraded Match Group from a "hold" rating to a "buy" rating in a research report on Sunday, April 26th. Wells Fargo & Company increased their target price on Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 7th. UBS Group lifted their price target on Match Group from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Susquehanna restated a "positive" rating on shares of Match Group in a report on Wednesday. Finally, Truist Financial upped their price objective on Match Group from $37.00 to $41.00 and gave the company a "hold" rating in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.79.

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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