KBC Group NV Sells 56,563 Shares of Match Group Inc. $MTCH

Key Points

• KBC Group NV cut its Match Group stake by 13.4% in the first quarter, selling 56,563 shares and leaving it with 365,758 shares valued at about $11.23 million.
• Match Group’s latest earnings topped expectations, with EPS of $0.68 versus $0.61 expected and revenue of $863.93 million, up 3.9% year over year.
• Wall Street remains cautious overall: the stock has a Hold consensus rating with an average price target of $41.29, though several analysts recently raised targets.

KBC Group NV lowered its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 13.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 365,758 shares of the technology company's stock after selling 56,563 shares during the quarter. KBC Group NV owned approximately 0.16% of Match Group worth $11,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in Match Group during the third quarter worth $28,000. Activest Wealth Management lifted its stake in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after acquiring an additional 848 shares during the last quarter. Whittier Trust Co. grew its position in shares of Match Group by 91.3% in the 1st 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 period. Parkside Financial Bank & Trust grew its position in shares of Match Group by 53.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock valued at $33,000 after acquiring an additional 356 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Match Group during the 4th quarter worth about $38,000. Institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler set a $51.00 price target on Match Group in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Weiss Ratings upgraded shares of Match Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Finally, Morgan Stanley increased their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.29.

Match Group Stock Down 1.9%

Shares of NASDAQ:MTCH opened at $38.03 on Thursday. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.03. The company's 50 day moving average price is $36.63 and its two-hundred day moving average price is $33.85. The firm has a market cap of $8.87 billion, a PE ratio of 14.52, a PEG ratio of 0.62 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. The firm had revenue of $863.93 million for the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company's revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. On average, research analysts expect that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.1%. Match Group's dividend payout ratio is presently 30.53%.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value 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 trade represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Match Group 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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