Manning & Napier Advisors LLC Has $7.75 Million Position in Match Group Inc. $MTCH

Manning & Napier Advisors LLC raised its position in Match Group Inc. (NASDAQ:MTCH) by 6.3% in the 1st quarter, Holdings Channel reports. The firm owned 252,287 shares of the technology company’s stock after buying an additional 15,000 shares during the period. Manning & Napier Advisors LLC’s holdings in Match Group were worth $7,748,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Main Street Research LLC acquired a new stake in Match Group during the 1st quarter worth $215,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Match Group by 100.0% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 54,000 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 27,005 shares in the last quarter. Jackson Thornton Wealth Management LLC grew its position in shares of Match Group by 47.9% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 10,185 shares of the technology company’s stock valued at $323,000 after purchasing an additional 3,297 shares during the period. Sage Rhino Capital LLC acquired a new stake in Match Group during the 1st quarter worth approximately $278,000. Finally, Abel Hall LLC bought a new stake in shares of Match Group during the first quarter worth $373,000. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the topic of several recent research reports. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Citigroup raised their target price on shares of Match Group from $33.00 to $39.00 and gave the company 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 note on Wednesday, May 6th. TD Cowen upped their target price on Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Barclays raised their price target on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus price target of $41.29.

Match Group Stock Performance

Match Group stock traded down $0.47 during midday trading on Friday, reaching $38.85. 2,189,775 shares of the company’s stock were exchanged, compared to its average volume of 3,675,978. The stock’s 50-day simple moving average is $36.25 and its 200 day simple moving average is $33.48. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.62 and a beta of 1.30. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $39.78.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Match Group had a negative return on equity of 307.45% and a net margin of 18.83%.The company had revenue of $863.93 million during the quarter, compared to analysts’ expectations of $854.70 million. During the same period last year, the firm posted $0.44 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Research analysts forecast 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 will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, July 7th. Match Group’s payout ratio is currently 30.53%.

Insider Activity at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

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.