Match Group Inc. $MTCH Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth increased its Match Group stake by 25.5% in the second quarter, bringing its holdings to 136,480 shares valued at approximately $5.2 million. Institutional investors collectively own 94.05% of MTCH.
• Match Group reported quarterly EPS of $0.70, beating estimates by $0.05, while revenue of $853.1 million fell short of expectations and declined 1.2% year over year.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized yield of about 1.9%. Analysts maintain a “Moderate Buy” consensus, with an average price target of $42.46.

Corient Private Wealth LP boosted its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 25.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,480 shares of the technology company's stock after acquiring an additional 27,750 shares during the period. Corient Private Wealth LP owned about 0.06% of Match Group worth $5,193,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MTCH. Amundi increased its holdings in Match Group by 83.0% in the second quarter. Amundi now owns 68,859 shares of the technology company's stock valued at $2,620,000 after buying an additional 31,233 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Match Group during the 2nd quarter worth about $1,910,000. Greenland Capital Management LP purchased a new position in shares of Match Group in the 2nd quarter valued at about $276,000. Wedmont Private Capital lifted its stake in Match Group by 29.6% during the second quarter. Wedmont Private Capital now owns 8,881 shares of the technology company's stock worth $345,000 after purchasing an additional 2,030 shares during the last quarter. Finally, Syon Capital LLC increased its stake in Match Group by 12.9% in the second quarter. Syon Capital LLC now owns 31,211 shares of the technology company's stock valued at $1,188,000 after purchasing an additional 3,572 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Trading Down 1.3%

Shares of NASDAQ:MTCH opened at $43.20 on Friday. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.64 and a beta of 1.32. The stock's 50-day moving average price is $40.09 and its two-hundred day moving average price is $36.44. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $44.94.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million for the quarter, compared to analysts' expectations of $857.77 million. During the same period last year, the company earned $0.49 earnings per share. The company's quarterly revenue was down 1.2% on a year-over-year basis. As a group, research analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Match Group's dividend payout ratio is presently 28.27%.

Insider Buying and Selling at Match Group

In related news, Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the transaction, the director owned 26,839 shares in the company, valued at approximately $1,138,778.77. The trade was a 11.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Philip Eigenmann sold 15,000 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $41.70, for a total transaction of $625,500.00. Following the sale, the chief accounting officer directly owned 19,389 shares of the company's stock, valued at approximately $808,521.30. This trade represents a 43.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,291 shares of company stock worth $976,478. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTCH. Wells Fargo & Company upped their target price on shares of Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Morgan Stanley set a $40.00 price target on shares of Match Group in a research report on Wednesday, August 5th. TD Cowen decreased their price objective on shares of Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. JPMorgan Chase & Co. assumed coverage on Match Group in a report on Monday, August 24th. They set a "neutral" rating and a $43.00 price objective on the stock. Finally, Truist Financial lifted their target price on Match Group from $37.00 to $41.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.46.

Match Group Company Profile

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCH - Free Report).

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.