Match Group Inc. $MTCH Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its stake in Match Group by 58.3% in the 3rd quarter to 1,217,999 shares (about 0.51% ownership) worth roughly $43.0 million.
• Several other institutions sharply boosted positions—CWM LLC up 3,228.4% and Wealth Enhancement Advisory up 611.8%—and institutional investors now own about 94.05% of the stock.
• Match Group recently missed EPS expectations (reported $0.83 vs. $1.00 consensus) while posting $878.0M revenue, and the board raised the quarterly dividend to $0.20 ($0.80 annualized, ~2.6% yield).

Russell Investments Group Ltd. lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 58.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,217,999 shares of the technology company's stock after buying an additional 448,568 shares during the quarter. Russell Investments Group Ltd. owned about 0.51% of Match Group worth $43,020,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CWM LLC boosted its stake in shares of Match Group by 3,228.4% during the third quarter. CWM LLC now owns 266,406 shares of the technology company's stock worth $9,409,000 after buying an additional 258,402 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Match Group by 611.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 116,535 shares of the technology company's stock valued at $3,857,000 after acquiring an additional 100,163 shares during the period. PNC Financial Services Group Inc. raised its stake in Match Group by 71.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company's stock valued at $965,000 after acquiring an additional 12,987 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in Match Group by 24.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 63,024 shares of the technology company's stock valued at $1,947,000 after acquiring an additional 12,206 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Match Group during the 3rd quarter worth approximately $1,863,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Trading Down 0.8%

Shares of Match Group stock opened at $30.60 on Thursday. The company has a 50-day moving average of $31.34 and a two-hundred day moving average of $33.17. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The stock has a market cap of $7.22 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.17). The firm had revenue of $878.01 million for the quarter, compared to analysts' expectations of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.Match Group's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. On average, sell-side analysts forecast that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. This is a boost from Match Group's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. Match Group's payout ratio is currently 31.93%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTCH. Raymond James Financial reiterated a "market perform" rating on shares of Match Group in a research note on Wednesday, December 10th. Royal Bank Of Canada restated an "outperform" rating and set a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. UBS Group set a $34.00 price target on Match Group in a report on Wednesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Match Group from $33.00 to $31.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Match Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Match Group currently has a consensus rating of "Hold" and a consensus price target of $35.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.