Match Group Inc. $MTCH Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Match Group stake by 11.8% in the first quarter, acquiring 323,006 additional shares and bringing its holdings to 3.05 million shares valued at approximately $93.8 million. Institutional investors and hedge funds collectively own 94.05% of MTCH.
• Match Group shares opened at $37.26, up 1.8%, while the company reported quarterly EPS of $0.70, beating estimates of $0.65. Revenue declined 1.2% year over year to $853.11 million, slightly below expectations.
• The company declared a quarterly dividend of $0.20 per share, equal to an annualized $0.80 payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $41.54.

Bank of America Corp DE increased its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,054,114 shares of the technology company's stock after purchasing an additional 323,006 shares during the period. Bank of America Corp DE owned 1.31% of Match Group worth $93,792,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MTCH. Bessemer Group Inc. lifted its holdings in shares of Match Group by 3.1% in the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock valued at $317,000 after buying an additional 311 shares during the period. Bollard Group LLC grew its holdings in Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock worth $1,625,000 after acquiring an additional 322 shares during the period. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 326 shares during the period. Parkside Financial Bank & Trust raised its position in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after acquiring an additional 356 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its holdings 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 during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Up 1.8%

NASDAQ:MTCH opened at $37.26 on Friday. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.40. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.58 and a beta of 1.30. The company's 50 day moving average is $37.34 and its 200-day moving average is $34.40.

Match Group (NASDAQ:MTCH - Get Free Report) last posted 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 business had revenue of $853.11 million for the quarter, compared to analyst estimates 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 revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS. Research analysts predict that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's dividend payout ratio (DPR) is currently 28.27%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTCH. Royal Bank Of Canada raised their price objective on shares of Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. UBS Group raised their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. TD Cowen decreased their price target on shares of Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday. Barclays upped their price target on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $41.54.

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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