NewEdge Advisors LLC Grows Stock Holdings in Match Group Inc. $MTCH

NewEdge Advisors LLC lifted its holdings in Match Group Inc. (NASDAQ:MTCH) by 178.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,588 shares of the technology company’s stock after acquiring an additional 18,303 shares during the quarter. NewEdge Advisors LLC’s holdings in Match Group were worth $878,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in 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 valued at $216,791,000 after purchasing an additional 5,652,174 shares during the last quarter. Norges Bank acquired a new position in shares of Match Group in the 4th quarter valued at about $112,641,000. State Street Corp lifted its holdings in shares of Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Match Group by 196.6% in the first quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after buying an additional 2,117,414 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Match Group by 156.1% during the first quarter. Quantinno Capital Management LP now owns 2,767,251 shares of the technology company’s stock worth $84,982,000 after acquiring an additional 1,686,887 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 3.9%

Shares of NASDAQ MTCH opened at $38.69 on Wednesday. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.56 and a beta of 1.30. The company’s 50-day simple moving average is $37.67 and its 200-day simple moving average is $34.71. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $41.40.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts anticipate that Match Group Inc. will post 3.31 EPS 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. Stockholders of record on Monday, October 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is 28.27%.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several recent research reports. Morgan Stanley set a $40.00 price objective on Match Group in a research report on Wednesday, August 5th. TD Cowen decreased their target price on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Citigroup increased their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Finally, Piper Sandler set a $51.00 price objective on shares of Match Group in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.54.

Insider Buying and Selling at Match Group

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