Maryland State Retirement & Pension System boosted its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 282.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,628 shares of the technology company's stock after purchasing an additional 34,440 shares during the period. Maryland State Retirement & Pension System's holdings in Match Group were worth $1,432,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Match Group by 12.8% in the fourth quarter. True Wealth Design LLC now owns 2,813 shares of the technology company's stock valued at $91,000 after purchasing an additional 320 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock worth $133,000 after buying an additional 326 shares in the last quarter. Parkside Financial Bank & Trust raised its position in 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 buying an additional 356 shares during the last quarter. Mather Group LLC. raised its position in Match Group by 6.0% in the 4th quarter. Mather Group LLC. now owns 6,477 shares of the technology company's stock valued at $209,000 after buying an additional 364 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its stake in Match Group by 9.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 5,034 shares of the technology company's stock valued at $163,000 after acquiring an additional 421 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.
Insider Transactions at Match Group
In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director owned 16,218 shares in the company, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.71% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on MTCH. TD Cowen upped their price target on Match Group from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Match Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, April 22nd. Piper Sandler set a $51.00 target price on shares of Match Group in a report on Wednesday, May 6th. Truist Financial set a $37.00 target price on shares of Match Group in a report on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Match Group from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.29.
Get Our Latest Stock Analysis on Match Group
Key Match Group News
Here are the key news stories impacting Match Group this week:
Match Group Stock Up 4.6%
MTCH stock opened at $40.11 on Thursday. The business has a 50 day moving average price of $36.33 and a two-hundred day moving average price of $33.61. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.61 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $40.17.
Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. The company had revenue of $863.93 million for the quarter, compared to analysts' expectations of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The business's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. On average, equities research analysts anticipate that Match Group Inc. will post 3.11 EPS for the current fiscal year.
Match Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group's dividend payout ratio is 30.53%.
Match Group Company Profile
(
Free Report)
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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