Polar Asset Management Partners Inc. Takes $2 Million Position in Match Group Inc. $MTCH

Polar Asset Management Partners Inc. bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 56,567 shares of the technology company’s stock, valued at approximately $1,998,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MTCH. Harbor Capital Advisors Inc. bought a new stake in shares of Match Group during the 3rd quarter worth about $25,000. Root Financial Partners LLC bought a new position in Match Group in the 3rd quarter valued at about $27,000. Employees Retirement System of Texas acquired a new stake in Match Group during the second quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Match Group during the third quarter worth approximately $28,000. Finally, Rossby Financial LCC boosted its holdings in shares of Match Group by 126.5% during the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after acquiring an additional 506 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Up 2.3%

Shares of NASDAQ:MTCH opened at $31.47 on Friday. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The company’s 50 day moving average price is $31.14 and its two-hundred day moving average price is $32.93. The firm has a market cap of $7.43 billion, a PE ratio of 13.22, a PEG ratio of 0.50 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). The company had revenue of $878.01 million during the quarter, compared to the consensus estimate of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. On average, research analysts expect that Match Group Inc. will post 2.44 EPS for the current year.

Match Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio is currently 31.93%.

Analysts Set New Price Targets

Several research firms have recently commented on MTCH. Wolfe Research set a $43.00 target price on Match Group and gave the company an “outperform” rating in a research report on Monday, January 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Morgan Stanley set a $35.00 price objective on Match Group in a research report on Wednesday, February 4th. Finally, TD Cowen lowered their price objective on Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.86.

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.