Grantham Mayo Van Otterloo & Co. LLC Has $2.48 Million Stock Position in Match Group Inc. $MTCH

Key Points

• Grantham Mayo Van Otterloo & Co. LLC cut its Match Group stake by 56.3%, selling 90,211 shares and leaving a 70,106-share position worth roughly $2.48 million at the end of the quarter.
• Match Group missed quarterly EPS expectations with $0.83 vs. $1.00 expected while revenue of $878.0 million slightly beat estimates; the stock trades around $30.84 with a market cap of $7.28 billion and a PE of 12.96.
• The company raised its quarterly dividend to $0.20 per share (annualized $0.80, ~2.6% yield), and analysts hold a consensus "Hold" rating with an average price target of $35.86.

Grantham Mayo Van Otterloo & Co. LLC reduced its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 56.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,106 shares of the technology company's stock after selling 90,211 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in Match Group were worth $2,476,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Match Group by 1.3% in the second 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. grew its holdings in shares of Match Group by 7.8% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company's stock valued at $180,798,000 after acquiring an additional 424,232 shares in the last quarter. Neuberger Berman Group LLC increased its position 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 acquiring an additional 349,963 shares during the last quarter. LSV Asset Management raised its holdings in Match Group by 37.8% during the third quarter. LSV Asset Management now owns 4,770,780 shares of the technology company's stock worth $168,504,000 after acquiring an additional 1,307,949 shares in the last quarter. Finally, Norges Bank acquired a new position in Match Group during the second quarter valued at approximately $134,429,000. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTCH shares. Wolfe Research set a $43.00 price target on Match Group and gave the company an "outperform" rating in a research note on Monday, January 5th. JPMorgan Chase & Co. cut their price objective on Match Group from $33.00 to $31.00 and set a "neutral" rating for the company in a report on Wednesday, February 4th. TD Cowen decreased their target price on shares of Match Group from $40.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, February 4th. Truist Financial lowered their target price on shares of Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Match Group in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Match Group has a consensus rating of "Hold" and a consensus price target of $35.86.

Match Group Stock Down 0.9%

Shares of NASDAQ MTCH opened at $30.84 on Wednesday. The business's 50 day moving average price is $31.37 and its two-hundred day moving average price is $33.19. The company has a market cap of $7.28 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.50 and a beta of 1.30. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $872.86 million. During the same period in the previous year, the business earned $0.59 earnings per share. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

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