Punch & Associates Investment Management Inc. Acquires New Shares in Match Group Inc. $MTCH

Key Points

• Punch & Associates acquired 346,382 Match Group shares worth approximately $13.18 million, giving it a 0.15% stake. Other institutions also increased holdings, with institutional investors and hedge funds owning 94.05% of the stock.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, while revenue of $853.11 million fell short of expectations and declined 1.2% year over year.
• The company announced a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $42.46.

Punch & Associates Investment Management Inc. acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 346,382 shares of the technology company's stock, valued at approximately $13,180,000. Punch & Associates Investment Management Inc. owned about 0.15% of Match Group at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Woodline Partners LP acquired a new position in shares of Match Group during the first quarter valued at $662,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Match Group by 20.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock worth $162,000 after acquiring an additional 891 shares during the period. First Trust Advisors LP increased its holdings in shares of Match Group by 45.9% in the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock worth $20,070,000 after acquiring an additional 204,472 shares during the period. Amundi lifted its position in Match Group by 1,477.6% in the 2nd quarter. Amundi now owns 358,709 shares of the technology company's stock valued at $11,637,000 after purchasing an additional 335,971 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in Match Group in the 2nd quarter valued at about $298,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Trading Down 0.3%

Match Group stock opened at $42.07 on Thursday. 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. The company's 50-day moving average price is $38.38 and its two-hundred day moving average price is $35.16. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $42.49.

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 for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Research analysts expect that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be issued 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 yield of 1.9%. Match Group's payout ratio is presently 28.27%.

Analyst Ratings Changes

MTCH has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price 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. Barclays lifted their price target on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Zacks Research raised Match Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Royal Bank Of Canada increased their price objective on Match Group from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Finally, TD Cowen lowered their target price on Match Group from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.46.

Insiders Place Their Bets

In other news, Director Glenn Schiffman purchased 3,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director owned 56,370 shares in the company, valued at $2,064,833.10. This trade represents a 5.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.

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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