Invenomic Capital Management LP Acquires 40,915 Shares of Match Group Inc. $MTCH

Key Points

• Invenomic Capital Management LP has increased its stake in Match Group Inc. by 3.7%, now owning approximately 1,147,791 shares valued at around $35.8 million, representing 1.8% of their portfolio.
• Analysts have mixed opinions on Match Group, with Wall Street Zen downgrading the stock from a "buy" to a "hold" rating, while other firms adjusted price targets primarily downwards.
• Match Group has declared a quarterly dividend of $0.19 per share, equating to an annualized yield of 2.0%, which will be paid on October 17th to shareholders recorded by October 3rd.

Invenomic Capital Management LP raised its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,147,791 shares of the technology company's stock after acquiring an additional 40,915 shares during the period. Match Group comprises about 1.8% of Invenomic Capital Management LP's investment portfolio, making the stock its 11th largest position. Invenomic Capital Management LP owned 0.46% of Match Group worth $35,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Match Group in the first quarter valued at $37,000. SVB Wealth LLC acquired a new stake in shares of Match Group in the first quarter valued at $49,000. Summit Securities Group LLC acquired a new stake in shares of Match Group in the first quarter valued at $54,000. Mather Group LLC. increased its stake in shares of Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after buying an additional 1,434 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Match Group in the first quarter valued at $103,000. 94.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director owned 8,058 shares in the company, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of Match Group stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer owned 23,240 shares in the company, valued at $871,964.80. This trade represents a 21.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,454 shares of company stock worth $907,839. Insiders own 0.64% of the company's stock.

Match Group Stock Performance

MTCH traded down $0.56 during midday trading on Tuesday, reaching $38.21. 3,680,230 shares of the company were exchanged, compared to its average volume of 4,675,225. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The stock has a market capitalization of $9.19 billion, a P/E ratio of 18.82, a PEG ratio of 0.76 and a beta of 1.36. The stock's 50-day simple moving average is $35.16 and its 200 day simple moving average is $31.99.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is 37.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MTCH. UBS Group raised their target price on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Evercore ISI raised their target price on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their price target on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Five equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.44.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.