Holocene Advisors LP Raises Holdings in Match Group Inc. $MTCH

Holocene Advisors LP increased its holdings in Match Group Inc. (NASDAQ:MTCH) by 2,474.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,741,573 shares of the technology company’s stock after buying an additional 2,635,085 shares during the period. Holocene Advisors LP owned about 1.16% of Match Group worth $96,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Bollard Group LLC increased its holdings in shares of Match Group by 0.6% in the 3rd quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock valued at $1,938,000 after acquiring an additional 317 shares during the period. Smartleaf Asset Management LLC boosted its position in Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after purchasing an additional 326 shares in the last quarter. Bessemer Group Inc. boosted its position in Match Group by 2.8% during the third quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock valued at $432,000 after purchasing an additional 333 shares in the last quarter. Rossby Financial LCC grew its stake in Match Group by 126.5% in the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock valued at $31,000 after purchasing an additional 506 shares during the last quarter. Finally, Huntington National Bank grew its stake in Match Group by 35.8% in the third quarter. Huntington National Bank now owns 1,984 shares of the technology company’s stock valued at $70,000 after purchasing an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MTCH. JPMorgan Chase & Co. decreased their price target on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. UBS Group reiterated a “neutral” rating on shares of Match Group in a research note on Friday. Royal Bank Of Canada reissued an “outperform” rating and set a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. Truist Financial lowered their target price on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Wednesday, February 4th. Finally, Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.86.

Match Group Stock Down 1.6%

Shares of Match Group stock opened at $30.29 on Tuesday. The company has a 50 day moving average price of $31.23 and a 200 day moving average price of $33.00. The firm has a market capitalization of $7.15 billion, a P/E ratio of 12.73, a PEG ratio of 0.50 and a beta of 1.30. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.17). The company had revenue of $878.01 million for the quarter, compared to analyst estimates of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, research analysts anticipate that Match Group Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.6%. This is an increase from Match Group’s previous quarterly dividend of $0.19. Match Group’s payout ratio is presently 31.93%.

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.