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Match Group Inc. $MTCH Stock Position Boosted by Chicago Partners Investment Group LLC

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Key Points

  • Chicago Partners Investment Group LLC increased its Match Group stake by 131.5% in the first quarter, ending with 45,280 shares worth about $1.39 million.
  • Several other institutional investors also added to or initiated positions, and overall 94.05% of Match Group’s stock is held by institutions.
  • Match Group reported better-than-expected Q1 earnings of $0.68 per share on revenue of $863.93 million, and it also declared a quarterly dividend of $0.20 per share.
  • Five stocks to consider instead of Match Group.

Chicago Partners Investment Group LLC raised its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 131.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,280 shares of the technology company's stock after buying an additional 25,722 shares during the period. Chicago Partners Investment Group LLC's holdings in Match Group were worth $1,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Match Group by 101.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 39,677 shares of the technology company's stock worth $1,219,000 after acquiring an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Match Group by 6.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,379 shares of the technology company's stock valued at $1,793,000 after acquiring an additional 3,468 shares during the period. Citizens Financial Group Inc. RI acquired a new position in shares of Match Group during the first quarter valued at approximately $255,000. Fifth Third Bancorp raised its holdings in Match Group by 1,608.1% during the first quarter. Fifth Third Bancorp now owns 116,306 shares of the technology company's stock worth $3,572,000 after purchasing an additional 109,497 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Match Group by 13.3% during the first quarter. Sequoia Financial Advisors LLC now owns 11,971 shares of the technology company's stock worth $368,000 after purchasing an additional 1,403 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MTCH. Morgan Stanley upped their target price on Match Group from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on Match Group in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price objective on Match Group from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Finally, Citigroup raised their target price on Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $41.29.

Check Out Our Latest Research Report on Match Group

Insider Activity at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.71% of the company's stock.

Match Group Stock Performance

Match Group stock opened at $40.11 on Thursday. The company has a 50 day moving average price of $36.33 and a 200 day moving average price of $33.61. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $40.17. The firm has a market capitalization of $9.36 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The firm had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same period in the prior year, the business earned $0.44 EPS. The business's revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group's dividend payout ratio is 30.53%.

Key Match Group News

Here are the key news stories impacting Match Group this week:

Match Group Company Profile

(Free Report)

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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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).

Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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.

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