Man Group plc Takes $23.63 Million Position in Match Group Inc. $MTCH

Key Points

• Man Group plc acquired 621,045 Match Group shares valued at approximately $23.63 million, representing about 0.27% of the company. Institutional investors collectively own 94.05% of Match Group.
• Match Group beat quarterly earnings expectations with EPS of $0.70 versus the $0.65 consensus, although revenue fell 1.2% year over year to $853.11 million.
• The company announced a quarterly dividend of $0.20 per share, implying an annualized payout of $0.80 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $42.46.

Man Group plc bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 621,045 shares of the technology company's stock, valued at approximately $23,631,000. Man Group plc owned approximately 0.27% of Match Group as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management raised its stake in Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after purchasing an additional 848 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Match Group in the 3rd quarter worth $28,000. Whittier Trust Co. grew its stake 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 worth $29,000 after buying an additional 431 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings 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 worth $33,000 after buying an additional 356 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after buying an additional 884 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Activity

In other Match Group news, Director Glenn Schiffman bought 3,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were 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 in the company, valued at $2,064,833.10. This represents a 5.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.71% of the stock is owned by company insiders.

Match Group Trading Down 0.3%

Shares of MTCH opened at $42.07 on Thursday. The company's fifty day simple moving average is $38.38 and its 200-day simple moving average is $35.16. The company has a market cap of $9.66 billion, a P/E ratio of 14.87, a P/E/G ratio of 0.62 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $42.49.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to analysts' expectations of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group's payout ratio is 28.27%.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several recent research reports. Barclays upped their target price on shares of Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective 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 upped their price objective on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Morgan Stanley set a $40.00 price objective on Match Group in a research report on Wednesday, August 5th. Finally, Citigroup raised their price objective on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.46.

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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