Maryland State Retirement & Pension System Acquires 34,440 Shares of Match Group Inc. $MTCH

Maryland State Retirement & Pension System grew its holdings in Match Group Inc. (NASDAQ:MTCHFree Report) by 282.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,628 shares of the technology company’s stock after buying an additional 34,440 shares during the period. Maryland State Retirement & Pension System’s holdings in Match Group were worth $1,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management raised its stake in Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after acquiring an additional 848 shares during the period. Advisory Services Network LLC bought a new position in Match Group during the third quarter worth $28,000. Whittier Trust Co. boosted its position in Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after purchasing an additional 431 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Match Group in the fourth quarter valued at $38,000. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTCH shares. UBS Group raised their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley increased their price target on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Wells Fargo & Company raised their price objective on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Piper Sandler set a $51.00 target price on Match Group in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Six 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.com, Match Group currently has a consensus rating of “Hold” and a consensus price target of $41.29.

Check Out Our Latest Stock Analysis on Match Group

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Match Group Stock Performance

NASDAQ:MTCH opened at $40.11 on Thursday. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $40.17. The firm’s 50-day simple moving average is $36.33 and its 200 day simple moving average is $33.61. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.61 and a beta of 1.30.

Match Group (NASDAQ:MTCHGet Free Report) last posted 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 net margin of 18.83% and a negative return on equity of 307.45%. The firm had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, July 7th. Match Group’s payout ratio is 30.53%.

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Match Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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