Match Group Inc. $MTCH Stock: State of Alaska Department of Revenue Decreases Stake

Key Points

• State of Alaska Department of Revenue cut its Match Group stake by 37.4% in the third quarter, selling 28,716 shares and retaining 48,103 shares valued at approximately $1.93 million. Institutional investors collectively own 94.05% of the company.
• Analyst sentiment is mixed, with seven Buy ratings and nine Holds producing a consensus “Hold” rating and an average price target of $42.46.
• Match Group reported quarterly EPS of $0.70, exceeding estimates of $0.65, while revenue declined 1.2% year over year to $853.11 million. The company also declared a quarterly dividend of $0.20 per share, representing a 1.9% yield.

State of Alaska Department of Revenue lessened its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 37.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,103 shares of the technology company's stock after selling 28,716 shares during the quarter. State of Alaska Department of Revenue's holdings in Match Group were worth $1,930,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank acquired a new position in Match Group during the 3rd quarter worth approximately $31,000. Whittier Trust Co. grew its stake in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock worth $29,000 after acquiring an additional 431 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after acquiring an additional 884 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Match Group during the 2nd quarter worth approximately $76,000. Finally, Parallel Advisors LLC raised its holdings in shares of Match Group by 31.4% in the first quarter. Parallel Advisors LLC now owns 3,385 shares of the technology company's stock valued at $104,000 after purchasing an additional 808 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MTCH. Wells Fargo & Company boosted their price objective on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. started coverage on shares of Match Group in a report on Monday, August 24th. They set a "neutral" rating and a $43.00 target price for the company. Morgan Stanley set a $40.00 target price on shares of Match Group in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, TD Cowen lowered their price target on shares of Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Seven equities 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, Match Group has a consensus rating of "Hold" and an average target price of $42.46.

Match Group Stock Performance

MTCH opened at $42.95 on Monday. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $44.94. The firm has a market capitalization of $9.86 billion, a PE ratio of 15.18, a PEG ratio of 0.64 and a beta of 1.43. The business's 50-day simple moving average is $41.03 and its 200 day simple moving average is $37.96.

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

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given 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 1.9%. Match Group's payout ratio is 28.27%.

Insider Buying and Selling

In related news, Director Glenn Schiffman acquired 3,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the purchase, the director directly owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total value of $149,820.33. Following the completion of the sale, the director directly owned 26,839 shares of the company's stock, valued at approximately $1,138,778.77. The trade was a 11.63% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 23,291 shares of company stock worth $976,478. 0.71% of the stock is currently owned by company insiders.

Match Group Profile

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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