Weiss Asset Management LP Boosts Stock Position in Match Group Inc. $MTCH

Weiss Asset Management LP raised its holdings in Match Group Inc. (NASDAQ:MTCH) by 903.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 116,853 shares of the technology company’s stock after buying an additional 105,213 shares during the period. Weiss Asset Management LP’s holdings in Match Group were worth $3,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Callodine Capital Management LP lifted its position in shares of Match Group by 4.9% during the first quarter. Callodine Capital Management LP now owns 1,690,388 shares of the technology company’s stock worth $51,912,000 after purchasing an additional 78,960 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of Match Group by 60.7% during the first quarter. Waverly Advisors LLC now owns 15,923 shares of the technology company’s stock valued at $489,000 after purchasing an additional 6,012 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in shares of Match Group by 3.5% in the first quarter. Punch & Associates Investment Management Inc. now owns 379,972 shares of the technology company’s stock worth $11,669,000 after purchasing an additional 12,977 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Match Group by 196.6% in the first quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after purchasing an additional 2,117,414 shares during the last quarter. Finally, Bollard Group LLC increased its stake in Match Group by 0.6% in the 1st quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock worth $1,625,000 after buying an additional 322 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on MTCH. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Citigroup upped their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Finally, Piper Sandler set a $51.00 price target on Match Group in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.29.

Insider Buying and Selling at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.71% of the company’s stock.

Match Group Stock Performance

Shares of Match Group stock opened at $37.91 on Monday. The stock’s fifty day moving average price is $36.72 and its 200-day moving average price is $33.93. The firm has a market cap of $8.84 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.61 and a beta of 1.30. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.03.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, topping 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 company had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts forecast that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th were issued a $0.20 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group’s payout ratio is currently 30.53%.

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.