Pallas Capital Advisors LLC Buys Shares of 42,346 Match Group Inc. $MTCH

Pallas Capital Advisors LLC purchased a new stake in Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 42,346 shares of the technology company’s stock, valued at approximately $1,611,000.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial boosted their price objective on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Morgan Stanley set a $40.00 price target on shares of Match Group in a research report on Wednesday, August 5th. Susquehanna reissued a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, Citigroup increased their price objective on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One research 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 has a consensus rating of “Moderate Buy” and an average price target of $41.54.

Match Group Trading Down 1.9%

Shares of MTCH stock opened at $37.22 on Tuesday. The company has a market cap of $8.54 billion, a P/E ratio of 13.15, a PEG ratio of 0.56 and a beta of 1.30. The firm has a fifty day moving average price of $37.59 and a 200 day moving average price of $34.66. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.40.

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

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group’s payout ratio is presently 28.27%.

Insider Activity

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.71% of the stock is currently owned by company insiders.

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.