Corient Private Wealth LP Takes $5.02 Million Position in Match Group Inc. $MTCH

Corient Private Wealth LP purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the second quarter, HoldingsChannel reports. The firm purchased 132,039 shares of the technology company’s stock, valued at approximately $5,024,000.

Several other institutional investors also recently modified their holdings of MTCH. Versant Capital Management Inc raised its position in Match Group by 1.9% during the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock worth $588,000 after purchasing an additional 289 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock valued at $317,000 after buying an additional 311 shares during the last quarter. Bollard Group LLC increased its stake in shares of Match Group by 0.6% in the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock valued at $1,625,000 after buying an additional 322 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Match Group by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after buying an additional 326 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after acquiring an additional 356 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 2.2%

Shares of NASDAQ MTCH opened at $40.65 on Tuesday. The firm has a market capitalization of $9.33 billion, a P/E ratio of 14.36, a P/E/G ratio of 0.61 and a beta of 1.30. The firm’s 50-day moving average price is $38.72 and its 200-day moving average price is $35.34. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $42.49.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. Equities research analysts forecast that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Insider Activity at Match Group

In other Match Group news, CAO Philip D. Eigenmann sold 15,000 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the transaction, the chief accounting officer owned 19,389 shares in the company, valued at approximately $808,521.30. This represents a 43.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Glenn Schiffman acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, for a total transaction 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 SEC filing for this purchase provides additional information. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. Morgan Stanley set a $40.00 price objective on Match Group in a research note on Wednesday, August 5th. Wells Fargo & Company increased their target price on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. initiated coverage on shares of Match Group in a report on Monday, August 24th. They set a “neutral” rating and a $43.00 price target for the company. Barclays boosted their price target 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. Finally, Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.46.

Match Group Company 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.