Neuberger Berman Group LLC Decreases Stock Position in Match Group Inc. $MTCH

Key Points

• Neuberger Berman Group LLC cut its stake in Match Group by 38.9% in Q3, selling 2,055,988 shares and now holds 3,231,214 shares (about 1.34% of the company) valued at roughly $114.13 million.
• Match Group missed Q4 EPS ($0.83 vs. $1.00 expected) while revenue of $878.0 million slightly beat estimates, and the company raised its quarterly dividend to $0.20 (annualized yield ~2.6%).
• Analysts maintain a consensus Hold with an average price target of $35.86; several firms have trimmed targets (e.g., JPMorgan to $31, Truist to $34) though some still rate the stock a Buy or Outperform.

Neuberger Berman Group LLC cut its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 38.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,231,214 shares of the technology company's stock after selling 2,055,988 shares during the quarter. Neuberger Berman Group LLC owned about 1.34% of Match Group worth $114,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MTCH. Barclays PLC increased its position in Match Group by 9.4% during the third quarter. Barclays PLC now owns 1,469,706 shares of the technology company's stock valued at $51,910,000 after acquiring an additional 126,331 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Match Group by 437.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 78,603 shares of the technology company's stock worth $2,776,000 after acquiring an additional 63,989 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Match Group by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,125,373 shares of the technology company's stock worth $110,403,000 after acquiring an additional 105,406 shares during the last quarter. Bellwether Advisors LLC purchased a new position in shares of Match Group during the 3rd quarter worth about $1,962,000. Finally, Cresset Asset Management LLC boosted its stake in shares of Match Group by 138.8% during the 3rd quarter. Cresset Asset Management LLC now owns 23,036 shares of the technology company's stock worth $814,000 after purchasing an additional 13,389 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MTCH. Wall Street Zen raised shares of Match Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. UBS Group set a $34.00 target price on Match Group in a research report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $37.00 target price on shares of Match Group in a research note on Wednesday, December 10th. Truist Financial reduced their price target on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price target on Match Group from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $35.86.

Match Group Price Performance

Shares of MTCH opened at $30.47 on Friday. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.51 and a beta of 1.30. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a 50-day moving average of $31.42 and a 200 day moving average of $33.33.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.17). The company had revenue of $878.01 million during the quarter, compared to the consensus estimate of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.Match Group's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, equities analysts anticipate that Match Group Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be given a dividend of $0.20 per share. This is a boost from Match Group's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.6%. Match Group's dividend payout ratio is presently 31.93%.

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.

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.