Picton Mahoney Asset Management Acquires Shares of 52,743 Match Group Inc. $MTCH

Key Points

• Picton Mahoney bought a new position of 52,743 shares in Match Group valued at about $1.86 million in Q3, joining other large institutional buyers and leaving hedge funds/institutions owning 94.05% of the stock.
• Match Group missed EPS estimates (reported $0.83 vs. $1.00 expected) while revenue slightly beat at $878.0M (+2.1% YoY), and the company raised its quarterly dividend to $0.20 (annualized yield ~2.6%).
• Analysts are mixed: the consensus is a “Hold” with an average price target of $35.86, comprising five Buy ratings and eleven Hold ratings and targets ranging roughly $34–$43.

Picton Mahoney Asset Management bought a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,743 shares of the technology company's stock, valued at approximately $1,863,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Match Group in the 2nd quarter valued at about $134,429,000. Jupiter Asset Management Ltd. grew its stake in shares of Match Group by 15,523.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company's stock valued at $107,751,000 after purchasing an additional 3,465,877 shares during the last quarter. LSV Asset Management increased its holdings in shares of Match Group by 106.2% in the second quarter. LSV Asset Management now owns 3,462,831 shares of the technology company's stock valued at $106,967,000 after purchasing an additional 1,783,256 shares during the period. DNB Asset Management AS raised its stake in shares of Match Group by 69.7% during the third quarter. DNB Asset Management AS now owns 2,581,589 shares of the technology company's stock worth $91,182,000 after purchasing an additional 1,060,038 shares during the last quarter. Finally, Callodine Capital Management LP raised its stake in shares of Match Group by 67.3% during the second quarter. Callodine Capital Management LP now owns 1,355,000 shares of the technology company's stock worth $41,856,000 after purchasing an additional 545,000 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MTCH shares. Wall Street Zen upgraded shares of Match Group from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Morgan Stanley set a $35.00 target price on shares of Match Group in a research note on Wednesday, February 4th. TD Cowen lowered their target price on shares of Match Group from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, February 4th. UBS Group set a $34.00 price target on shares of Match Group in a report on Wednesday, February 4th. Finally, Wolfe Research set a $43.00 price objective on shares of Match Group and gave the company an "outperform" rating in a research report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Match Group presently has an average rating of "Hold" and an average target price of $35.86.

Match Group Trading Up 1.7%

MTCH stock opened at $31.31 on Friday. The company's 50-day moving average price is $31.47 and its 200 day moving average price is $33.38. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The company has a market cap of $7.39 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.59 and a beta of 1.30.

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

Match Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be issued a dividend of $0.20 per share. This is a boost from Match Group's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, April 7th. Match Group's 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.

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