Great Lakes Advisors LLC Invests $3.33 Million in Match Group Inc. $MTCH

Great Lakes Advisors LLC purchased a new position in Match Group Inc. (NASDAQ:MTCH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 87,650 shares of the technology company’s stock, valued at approximately $3,335,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTCH. Advisory Services Network LLC acquired a new stake in Match Group during the third quarter worth about $28,000. Activest Wealth Management raised its position in shares of 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 buying an additional 848 shares in the last quarter. Whittier Trust Co. raised its position in shares of Match Group by 91.3% in the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after buying an additional 431 shares in the last quarter. Elevation Wealth Partners LLC lifted its holdings in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after acquiring an additional 884 shares during the period. Finally, Parkside Financial Bank & Trust lifted 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 acquiring an additional 356 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MTCH shares. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Citigroup raised their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Truist Financial lifted their price target on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Piper Sandler set a $51.00 price target on Match Group in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.54.

Insider Transactions at Match Group

In other news, Director Glenn Schiffman bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.71% of the stock is currently owned by insiders.

Match Group Price Performance

MTCH stock opened at $40.35 on Friday. The company has a 50 day simple moving average of $37.89 and a 200 day simple moving average of $34.84. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.58 and a beta of 1.30. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $41.40.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share 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 analyst estimates 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 quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. On average, equities research analysts anticipate that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Match Group’s payout ratio is currently 28.27%.

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.