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

Manning & Napier Advisors LLC lifted its holdings in Match Group Inc. (NASDAQ:MTCH) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 252,287 shares of the technology company’s stock after purchasing an additional 15,000 shares during the period. Manning & Napier Advisors LLC owned 0.11% of Match Group worth $7,748,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MTCH. Advisory Services Network LLC acquired a new position in Match Group during the 3rd quarter valued at $28,000. Activest Wealth Management raised its position in shares of Match Group by 6,523.1% during the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after buying an additional 848 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after buying an additional 431 shares during the period. Parkside Financial Bank & Trust grew its position in 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 buying an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in Match Group during the fourth quarter valued at about $38,000. 94.05% of the stock is owned by institutional investors.

Match Group Price Performance

Shares of NASDAQ:MTCH traded down $0.47 during midday trading on Friday, reaching $38.85. The company’s stock had a trading volume of 2,189,775 shares, compared to its average volume of 3,675,978. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $39.78. The business’s fifty day simple moving average is $36.25 and its 200-day simple moving average is $33.48. The company has a market capitalization of $9.06 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.62 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The company had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend 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 the business’s stock in a transaction that occurred on 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 directly owned 16,218 shares of the company’s stock, valued at $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MTCH has been the subject of several recent research reports. TD Cowen upped their price target on Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Truist Financial set a $37.00 target price on Match Group in a research note on Wednesday, May 6th. Weiss Ratings raised Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Morgan Stanley lifted their price target on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Match Group currently has a consensus rating of “Hold” and a consensus price target of $41.29.

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.