PointState Capital LP Acquires New Holdings in Match Group Inc. $MTCH

Key Points

• PointState Capital acquired 1.10 million Match Group shares worth approximately $41.8 million, representing about 0.48% of the company; institutional investors collectively own 94.05% of the stock.
• Analysts maintain a “Moderate Buy” consensus on Match Group, with one Strong Buy, six Buy, and nine Hold ratings and an average price target of $42.46.
• Match Group exceeded quarterly EPS expectations, reporting $0.70 versus the $0.65 consensus, though revenue fell 1.2% year over year to $853.1 million. The company also announced a quarterly dividend of $0.20 per share, implying a 1.9% annual yield.

PointState Capital LP bought a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,097,337 shares of the technology company's stock, valued at approximately $41,754,000. PointState Capital LP owned approximately 0.48% of Match Group at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in shares of Match Group in the 3rd quarter worth about $28,000. Activest Wealth Management raised its holdings in shares of Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company's stock valued at $28,000 after buying an additional 848 shares in the last quarter. Whittier Trust Co. raised its holdings 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 valued at $29,000 after buying an additional 431 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock worth $36,000 after buying an additional 884 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after buying an additional 356 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MTCH shares. JPMorgan Chase & Co. initiated coverage on shares of Match Group in a research note on Monday. They issued a "neutral" rating and a $43.00 price objective for the company. The Goldman Sachs Group reissued a "buy" rating and issued a $43.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Susquehanna reissued a "positive" rating on shares of Match Group in a research note on Wednesday, August 5th. Royal Bank Of Canada upped their price target on shares of Match Group from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Finally, Piper Sandler set a $51.00 price objective on Match Group in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Match Group presently has an average rating of "Moderate Buy" and a consensus price target of $42.46.

Match Group Stock Performance

Match Group stock opened at $42.07 on Thursday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $42.49. The stock's 50 day simple moving average is $38.38 and its two-hundred day simple moving average is $35.16. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.62 and a beta of 1.30.

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

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group's dividend payout ratio is currently 28.27%.

Insider Activity at Match Group

In related news, Director Glenn Schiffman purchased 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the acquisition, the director directly owned 56,370 shares of the company's stock, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company's stock.

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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