Bank of New York Mellon Corp Has $81.38 Million Stock Holdings in Match Group Inc. $MTCH

Bank of New York Mellon Corp decreased its stake in Match Group Inc. (NASDAQ:MTCH) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,649,916 shares of the technology company’s stock after selling 347,479 shares during the period. Bank of New York Mellon Corp’s holdings in Match Group were worth $81,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Match Group by 1,163.7% in the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after acquiring an additional 5,652,174 shares during the period. Norges Bank acquired a new stake in Match Group during the 4th quarter valued at approximately $112,641,000. State Street Corp increased its position in Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after purchasing an additional 2,461,025 shares during the period. Nordea Investment Management AB bought a new position in Match Group during the 4th quarter worth approximately $30,637,000. Finally, Principal Financial Group Inc. raised its holdings in Match Group by 338.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after purchasing an additional 882,821 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director owned 16,218 shares in the company, valued at $582,874.92. The trade was a 24.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is owned by insiders.

Match Group Price Performance

NASDAQ MTCH opened at $38.75 on Wednesday. The stock has a market capitalization of $9.04 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.62 and a beta of 1.30. The business has a 50 day simple moving average of $36.59 and a 200 day simple moving average of $33.81. Match Group Inc. has a one year low of $28.81 and a one year high of $41.03.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $863.93 million for 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%.The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities analysts expect that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were paid a $0.20 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group’s payout ratio is currently 30.53%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MTCH shares. Citigroup boosted 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. Truist Financial set a $37.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. The Goldman Sachs Group reissued a “buy” rating and set a $43.00 target price on shares of Match Group in a research note on Wednesday, May 6th. UBS Group boosted their target price on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, 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. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.29.

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.