Maverick Capital Ltd. Makes New Investment in Match Group Inc. $MTCH

Maverick Capital Ltd. bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 34,543 shares of the technology company’s stock, valued at approximately $1,061,000.

Several other large investors also recently made changes to their positions in MTCH. Principal Financial Group Inc. grew its holdings in shares of Match Group by 338.3% during the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after buying an additional 882,821 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Match Group by 22.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 625,638 shares of the technology company’s stock valued at $20,202,000 after buying an additional 115,852 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Match Group in the 4th quarter valued at approximately $1,299,000. Deprince Race & Zollo Inc. lifted its stake in Match Group by 97.2% in the 1st quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock valued at $47,574,000 after acquiring an additional 763,764 shares in the last quarter. Finally, Swedbank AB boosted its position in Match Group by 22.3% during the 4th quarter. Swedbank AB now owns 816,800 shares of the technology company’s stock worth $26,374,000 after acquiring an additional 148,700 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MTCH shares. Royal Bank Of Canada lifted their price target on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company increased 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 note on Tuesday, July 7th. Piper Sandler set a $51.00 price objective on Match Group in a report on Wednesday, May 6th. Citigroup lifted their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Truist Financial set a $37.00 target price on Match Group in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus target price of $41.29.

Match Group Stock Up 1.2%

Match Group stock opened at $39.28 on Wednesday. The company’s 50-day moving average price is $36.85 and its two-hundred day moving average price is $34.02. The stock has a market cap of $9.16 billion, a P/E ratio of 14.99, a P/E/G ratio of 0.62 and a beta of 1.30. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $41.03.

Match Group (NASDAQ:MTCH) last announced its earnings results 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. The company had revenue of $863.93 million during the quarter, compared to analysts’ expectations of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. Match Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. Equities analysts anticipate that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, July 7th. Match Group’s payout ratio is currently 30.53%.

About Match Group

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.