Match Group Inc. $MTCH Shares Bought by Sei Investments Co.

Key Points

• Sei Investments increased its Match Group stake by 16% in the first quarter, holding 602,832 shares worth approximately $18.5 million. Institutional investors and hedge funds collectively own 94.05% of the company.
• Analysts raised several price targets, including TD Cowen’s increase to $44 and RBC’s to $42, but the overall consensus remains a “Hold” rating with an average target of $41.29.
• Match Group beat quarterly expectations with earnings of $0.68 per share and revenue of $863.93 million, while revenue rose 3.9% year over year. The company also paid a quarterly dividend of $0.20 per share, representing a 2.0% yield.

Sei Investments Co. lifted its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 602,832 shares of the technology company's stock after purchasing an additional 83,343 shares during the quarter. Sei Investments Co. owned 0.26% of Match Group worth $18,512,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Lido Advisors LLC grew its position in Match Group by 40.2% in the 1st quarter. Lido Advisors LLC now owns 34,903 shares of the technology company's stock valued at $1,072,000 after buying an additional 10,002 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Match Group by 10.3% in the 1st quarter. Cetera Investment Advisers now owns 33,492 shares of the technology company's stock worth $1,029,000 after acquiring an additional 3,141 shares during the period. First Trust Advisors LP boosted its holdings in shares of Match Group by 72.7% in the first quarter. First Trust Advisors LP now owns 2,406,923 shares of the technology company's stock valued at $73,917,000 after acquiring an additional 1,013,569 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Match Group by 38.7% in the first quarter. PNC Financial Services Group Inc. now owns 39,785 shares of the technology company's stock valued at $1,222,000 after acquiring an additional 11,091 shares in the last quarter. Finally, Earned Wealth Advisors LLC increased its stake in shares of Match Group by 45.1% during the first quarter. Earned Wealth Advisors LLC now owns 10,410 shares of the technology company's stock valued at $320,000 after acquiring an additional 3,237 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MTCH shares. TD Cowen upped their target price on Match Group from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Citigroup boosted their price objective on Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. UBS Group upped their price objective on Match Group from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Wall Street Zen raised Match Group from a "hold" rating to a "buy" rating in a report on Sunday, April 26th. Finally, Royal Bank Of Canada boosted their price target on shares of Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of "Hold" and an average price target of $41.29.

Insider Activity

In other 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 completion of the sale, the director owned 16,218 shares of the company's stock, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.71% of the stock is owned by insiders.

Match Group Trading Up 0.3%

MTCH stock opened at $39.40 on Thursday. Match Group Inc. has a one year low of $28.81 and a one year high of $41.03. The firm has a 50-day moving average of $36.92 and a two-hundred day moving average of $34.07. The firm has a market capitalization of $9.19 billion, a PE ratio of 15.04, a P/E/G ratio of 0.63 and a beta of 1.30.

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

Match Group Announces Dividend

The company 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. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Match Group's payout ratio is 30.53%.

Match Group Company 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.

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.