GSA Capital Partners LLP Acquires New Position in Match Group Inc. $MTCH

Key Points

• GSA Capital Partners acquired 27,316 Match Group shares worth approximately $1.04 million in the second quarter. 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 versus a recent price of $37.22.
• Match Group’s latest quarterly earnings exceeded expectations, with EPS of $0.70 versus the $0.65 estimate, though revenue fell 1.2% year over year. The company also declared a quarterly dividend of $0.20 per share, yielding about 2.1% annually.

GSA Capital Partners LLP acquired a new stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,316 shares of the technology company's stock, valued at approximately $1,039,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP bought a new position in shares of Match Group in the 1st quarter valued at $662,000. Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 891 shares during the last quarter. First Trust Advisors LP boosted its stake in Match Group by 45.9% in the second 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 in the last quarter. Amundi boosted its stake in Match Group by 1,477.6% in the second 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 in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Match Group in the second quarter valued at about $298,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director owned 56,370 shares of the company's stock, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on MTCH shares. Wells Fargo & Company boosted their target price on Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada raised their price target on shares of Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Zacks Research raised shares of Match Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Finally, Susquehanna restated a "positive" rating on shares of Match Group in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Match Group currently has an average rating of "Moderate Buy" and an average price target of $41.54.

Match Group Trading Down 1.9%

Match Group stock opened at $37.22 on Tuesday. The company has a market capitalization of $8.54 billion, a PE ratio of 13.15, a P/E/G ratio of 0.56 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 stock has a 50-day moving average price of $37.59 and a two-hundred day moving average price of $34.66.

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

Match Group Dividend Announcement

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