Redwood Investment Management LLC Takes Position in Match Group Inc. $MTCH

Key Points

• Redwood Investment Management purchased 59,783 Match Group shares worth approximately $2.275 million during the second quarter. Institutional investors collectively own 94.05% of the company, while an insider recently bought 3,000 shares.
• Analyst sentiment is positive, with Match Group receiving a consensus “Moderate Buy” rating and an average price target of $42.46; several firms recently raised their targets.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, though revenue declined 1.2% year over year. The company also announced a quarterly dividend of $0.20 per share, equivalent to a 1.9% annual yield.

Redwood Investment Management LLC purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 59,783 shares of the technology company's stock, valued at approximately $2,275,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Match Group by 1.9% in the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company's stock valued at $588,000 after buying an additional 289 shares during the period. Bessemer Group Inc. lifted its stake in shares of Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company's stock worth $317,000 after acquiring an additional 311 shares during the period. Bollard Group LLC boosted its holdings in shares of Match Group by 0.6% in the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company's stock valued at $1,625,000 after acquiring an additional 322 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Match Group by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company's stock valued at $133,000 after acquiring an additional 326 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company's stock worth $33,000 after acquiring an additional 356 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Glenn Schiffman purchased 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was acquired 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 in the company, valued at $2,064,833.10. This represents a 5.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Zacks Research raised Match Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. UBS Group upped their price objective on Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, 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 research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Match Group 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. The stock has a fifty day moving average of $38.38 and a two-hundred day moving average of $35.16. The company has a market capitalization 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 Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $42.49.

Match Group (NASDAQ:MTCH - Get Free Report) last issued 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 business had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. On average, analysts forecast that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

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

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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