Pallas Capital Advisors LLC Makes New Investment in Match Group Inc. $MTCH

Key Points

• Pallas Capital Advisors acquired 42,346 Match Group shares worth approximately $1.61 million, while other institutions also initiated positions; institutional investors now own 94.05% of the stock.
• Match Group reported quarterly EPS of $0.70, beating expectations of $0.65, although revenue of $853.1 million fell short of estimates and declined 1.2% year over year.
• The company declared a quarterly dividend of $0.20, equivalent to an annualized yield of about 2.1%. Analysts maintain a “Moderate Buy” consensus with an average price target of $41.54, versus a share price of $37.22.

Pallas Capital Advisors LLC acquired a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 42,346 shares of the technology company's stock, valued at approximately $1,611,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Deutsche Bank AG purchased a new position in shares of Match Group during the 2nd quarter valued at approximately $18,629,000. Trust Co. of Vermont purchased a new stake in Match Group in the 2nd quarter worth $507,000. Global Retirement Partners LLC purchased a new stake in Match Group in the 2nd quarter worth $339,000. Bank of New York Mellon Corp acquired a new position in Match Group during the second quarter worth $100,796,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Match Group during the second quarter worth $822,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Down 1.9%

NASDAQ:MTCH opened at $37.22 on Tuesday. The company has a market cap of $8.54 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.56 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.40. The company's 50-day moving average price is $37.59 and its 200-day moving average price is $34.66.

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

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be given a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Match Group's dividend payout ratio is 28.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTCH. Barclays boosted their target price on shares of Match Group from $49.00 to $51.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Citigroup raised their price target on shares of Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Zacks Research upgraded Match Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Morgan Stanley set a $40.00 price objective on Match Group in a research note on Wednesday, August 5th. Finally, Susquehanna reissued a "positive" rating on shares of Match Group in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.54.

Insider Activity at Match Group

In related news, Director Glenn Schiffman purchased 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price 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 $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.71% of the company's stock.

Match Group Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source