Match Group Inc. $MTCH Stake Lowered by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Match Group stake by 95.9% in the third quarter, selling 292,655 shares and retaining 12,426 shares worth approximately $499,000. Institutional investors collectively own 94.05% of the company.
• Analyst sentiment is mixed, with seven Buy ratings and nine Hold ratings; the stock has a consensus rating of Hold and an average price target of $42.46.
• Match Group beat quarterly EPS estimates, reporting $0.70 versus the expected $0.65, though revenue declined 1.2% year over year to $853.11 million. The company declared a quarterly dividend of $0.20 per share, representing a 1.9% yield.

Curated Wealth Partners LLC trimmed its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 95.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,426 shares of the technology company's stock after selling 292,655 shares during the period. Curated Wealth Partners LLC's holdings in Match Group were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. WealthPlan Investment Management LLC bought a new stake in Match Group in the 3rd quarter valued at $211,000. RHS Financial LLC acquired a new stake in Match Group during the 3rd quarter valued at $356,000. NorthCrest Asset Manangement LLC boosted its holdings in shares of Match Group by 21.7% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 35,357 shares of the technology company's stock worth $1,467,000 after buying an additional 6,295 shares during the period. Sound Income Strategies LLC lifted its holdings in Match Group by 0.3% during the 3rd quarter. Sound Income Strategies LLC now owns 137,124 shares of the technology company's stock worth $5,691,000 after purchasing an additional 460 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Match Group by 8.2% in the third quarter. Wedmont Private Capital now owns 9,609 shares of the technology company's stock valued at $399,000 after acquiring an additional 728 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MTCH shares. Zacks Research downgraded Match Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings upgraded Match Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. TD Cowen dropped their target price on shares of Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Finally, Truist Financial boosted their target price on shares of Match Group from $37.00 to $41.00 and gave the company a "hold" rating in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $42.46.

Match Group Stock Down 2.6%

Shares of NASDAQ MTCH opened at $42.95 on Friday. The company has a market capitalization of $9.86 billion, a PE ratio of 14.70, a PEG ratio of 0.65 and a beta of 1.43. The stock's 50 day moving average price is $41.03 and its 200-day moving average price is $37.91. Match Group Inc. has a twelve month low of $28.81 and a twelve 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 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%. The company had revenue of $853.11 million for the quarter, compared to analysts' expectations of $857.77 million. During the same period in the previous year, the business posted $0.49 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. The ex-dividend date 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 other news, Director Stephen Bailey sold 4,760 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total transaction of $201,157.60. Following the sale, the director directly owned 11,742 shares in the company, valued at $496,216.92. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Glenn Schiffman purchased 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the acquisition, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 23,291 shares of company stock worth $976,478 over the last three months. Company insiders own 0.71% of the company's stock.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help users form romantic, social and relationship-oriented connections across a range of demographics, interests and relationship goals.

Its brands include Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, OurTime, BLK, Chispa and The League. These services are available through mobile applications and websites and generally offer features such as user profiles, matching, messaging, discovery tools and subscription or other paid enhancements.

Match Group traces its origins to Match.com and was established as a standalone public company after being spun off from IAC in 2020.

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