Man Group plc Invests $23.63 Million in Match Group Inc. $MTCH

Man Group plc bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the second quarter, Holdings Channel.com reports. The fund bought 621,045 shares of the technology company’s stock, valued at approximately $23,631,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Match Group in the 2nd quarter worth about $1,087,055,000. AQR Capital Management LLC lifted its holdings in Match Group by 1,163.7% during 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 buying an additional 5,652,174 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Match Group in the 2nd quarter valued at about $154,811,000. Norges Bank purchased a new stake in Match Group in the 4th quarter valued at about $112,641,000. Finally, Bank of New York Mellon Corp bought a new position in Match Group in the 2nd quarter worth about $100,796,000. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Match Group

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of Match Group stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price 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. This represents a 5.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MTCH shares. Barclays raised their target price on shares of Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Truist Financial increased their price objective on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. UBS Group raised 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, Susquehanna reaffirmed a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and an average target price of $42.46.

Match Group Price Performance

Shares of Match Group stock opened at $42.07 on Thursday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $42.49. The firm’s 50-day moving average is $38.38 and its two-hundred day moving average is $35.16. The stock has a market cap 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 (NASDAQ:MTCH) last posted its earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. During the same quarter last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts expect that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

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.