Match Group Inc. $MTCH Shares Sold by Amundi

Key Points

• Amundi reduced its Match Group stake by 89% in the first quarter, selling 303,605 shares and retaining 37,626 shares valued at approximately $1.16 million. Institutional investors and hedge funds collectively own 94.05% of MTCH.
• Match Group reported quarterly EPS of $0.70, exceeding estimates of $0.65, while revenue of $853.11 million fell slightly short of expectations and declined 1.2% year over year.
• The company announced a quarterly dividend of $0.20 per share, equal to an annualized $0.80 dividend and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $41.54.

Amundi cut its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 89.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,626 shares of the technology company's stock after selling 303,605 shares during the period. Amundi's holdings in Match Group were worth $1,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Woodline Partners LP acquired a new position in Match Group during the first quarter worth $662,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock worth $162,000 after buying an additional 891 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Match Group by 45.9% in the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock worth $20,070,000 after buying an additional 204,472 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Match Group in the 2nd quarter worth about $298,000. Finally, Jump Financial LLC acquired a new stake in Match Group in the 2nd quarter valued at about $244,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Up 1.8%

Match Group stock opened at $37.26 on Friday. The stock has a market cap of $8.69 billion, a PE ratio of 13.17, a P/E/G ratio of 0.58 and a beta of 1.30. The stock has a 50-day moving average price of $37.34 and a 200 day moving average price of $34.40. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $41.40.

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, beating analysts' consensus estimates 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 company had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same period in the prior year, the firm earned $0.49 EPS. The firm's quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group's dividend payout ratio is presently 28.27%.

Analyst Upgrades and Downgrades

MTCH has been the subject of several recent research reports. Piper Sandler set a $51.00 target price on shares of Match Group in a report on Wednesday, May 6th. Citigroup increased their price target on shares of Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on shares of Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. TD Cowen cut their price objective on Match Group from $46.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Weiss Ratings upgraded Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus 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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