Y Intercept Hong Kong Ltd Sells 77,946 Shares of Match Group Inc. $MTCH

Key Points

• Y Intercept Hong Kong Ltd cut its Match Group stake by 42.6% in Q1, selling 77,946 shares and leaving it with 105,184 shares worth about $3.23 million.
• Match Group reported better-than-expected quarterly results, posting EPS of $0.68 versus $0.61 estimated and revenue of $863.93 million, up 3.9% from a year earlier.
• The stock was trading up 3.2% at $38.89, while analysts remained mixed overall with an average Hold rating and a consensus price target of $41.29.

Y Intercept Hong Kong Ltd lessened its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 42.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,184 shares of the technology company's stock after selling 77,946 shares during the period. Y Intercept Hong Kong Ltd's holdings in Match Group were worth $3,230,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MTCH. AQR Capital Management LLC lifted its stake in Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company's stock valued at $216,791,000 after acquiring an additional 5,652,174 shares in the last quarter. Norges Bank acquired a new stake in Match Group during the 4th quarter valued at $112,641,000. Holocene Advisors LP boosted its position in Match Group by 2,474.5% during the third quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company's stock worth $96,832,000 after purchasing an additional 2,635,085 shares during the period. State Street Corp boosted its position in Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Match Group by 58.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company's stock worth $96,786,000 after purchasing an additional 1,111,419 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MTCH shares. Weiss Ratings raised Match Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Truist Financial set a $37.00 price target on shares of Match Group in a report on Wednesday, May 6th. UBS Group raised their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. TD Cowen lifted their target price on shares of Match Group from $37.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $41.29.

Match Group Trading Up 3.2%

NASDAQ:MTCH traded up $1.22 during trading hours on Tuesday, reaching $38.89. The company had a trading volume of 941,541 shares, compared to its average volume of 4,443,814. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.61 and a beta of 1.30. The firm's 50 day moving average price is $36.05 and its 200-day moving average price is $33.27. 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 issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.Match Group's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Announces Dividend

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

Insider Transactions at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company's stock in a transaction dated Friday, May 8th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.

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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