Sterling Capital Management LLC Has $242,000 Position in Match Group Inc. $MTCH

Key Points

• Sterling Capital Management cut its Match Group stake by 86.6% in the first quarter, selling 51,001 shares and leaving it with 7,895 shares valued at about $242,000.
• Match Group reported stronger-than-expected quarterly results, with EPS of $0.68 versus $0.61 expected and revenue of $863.93 million, up 3.9% year over year.
• The company announced a quarterly dividend of $0.20 per share, while analysts remain mixed overall with a Hold consensus and an average price target of $41.07.

Sterling Capital Management LLC decreased its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 86.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,895 shares of the technology company's stock after selling 51,001 shares during the quarter. Sterling Capital Management LLC's holdings in Match Group were worth $242,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Match Group by 14.6% in the third quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock worth $680,826,000 after acquiring an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company's stock valued at $385,590,000 after purchasing an additional 162,330 shares during the last quarter. Starboard Value LP grew its stake in Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company's stock valued at $367,957,000 after purchasing an additional 325,000 shares in the last quarter. Invesco Ltd. grew its stake in Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company's stock valued at $316,422,000 after purchasing an additional 872,524 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Match Group by 32.8% in the fourth quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company's stock worth $261,692,000 after buying an additional 2,011,970 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Stock Performance

MTCH opened at $37.90 on Monday. The company has a fifty day moving average price of $36.05 and a two-hundred day moving average price of $33.27. The firm has a market capitalization of $8.84 billion, a PE ratio of 14.47, a P/E/G ratio of 0.61 and a beta of 1.30. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $39.20.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The business had revenue of $863.93 million for the quarter, compared to analyst estimates of $854.70 million. During the same period last year, the company earned $0.44 EPS. The firm's revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Match Group's dividend payout ratio (DPR) is 30.53%.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Wall Street Zen upgraded Match Group from a "hold" rating to a "buy" rating in a research note on Sunday, April 26th. Piper Sandler set a $51.00 price objective on Match Group in a research report on Wednesday, May 6th. Citigroup raised their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price objective on Match Group from $49.00 to $51.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.07.

Insider Activity

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares of the company's stock, valued at $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.71% of the company's stock.

Match Group 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.

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