IPG Investment Advisors LLC Acquires New Stake in Match Group Inc. $MTCH

Key Points

• IPG Investment Advisors acquired 49,437 Match Group shares worth approximately $1.88 million during the second quarter. Institutional investors collectively own 94.05% of the company.
• Match Group reported quarterly EPS of $0.70, exceeding estimates of $0.65, while revenue of $853.11 million fell slightly short of expectations and declined 1.2% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $42.46.

IPG Investment Advisors LLC bought a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 49,437 shares of the technology company's stock, valued at approximately $1,881,000.

A number of other institutional investors have also recently made changes to their positions in MTCH. Advisory Services Network LLC bought a new position in shares of Match Group during the third quarter worth about $28,000. Whittier Trust Co. boosted its holdings in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock valued at $29,000 after acquiring an additional 431 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after purchasing an additional 356 shares during the period. Elevation Wealth Partners LLC increased its position in Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock valued at $36,000 after purchasing an additional 884 shares during the period. Finally, Root Financial Partners LLC raised its holdings in Match Group by 63.9% during the 4th quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company's stock worth $40,000 after purchasing an additional 489 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

In other news, Director Glenn Schiffman purchased 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the completion of the transaction, the director owned 26,839 shares in the company, valued at approximately $1,138,778.77. The trade was a 11.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,291 shares of company stock worth $976,478 over the last quarter. Company insiders own 0.71% of the company's stock.

Match Group Stock Up 0.7%

Shares of MTCH stock opened at $41.43 on Thursday. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.60 and a beta of 1.32. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $43.47. The firm has a 50 day moving average of $39.43 and a 200-day moving average of $35.90.

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

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued 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 1.9%. Match Group's dividend payout ratio is currently 28.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MTCH shares. Susquehanna restated a "positive" rating on shares of Match Group in a research report on Wednesday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of Match Group in a research report on Monday, August 24th. They set a "neutral" rating and a $43.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Zacks Research upgraded shares of Match Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Finally, Morgan Stanley set a $40.00 price target on shares of Match Group in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $42.46.

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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