EP Wealth Advisors LLC Acquires Shares of 20,157 Match Group Inc. $MTCH

EP Wealth Advisors LLC bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,157 shares of the technology company’s stock, valued at approximately $767,000.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Match Group in the second quarter worth about $1,087,055,000. State Street Corp boosted its holdings in Match Group by 14.6% in the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after purchasing an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Match Group by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after purchasing an additional 162,330 shares in the last quarter. Starboard Value LP grew its stake in Match Group by 2.9% during the 4th quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after purchasing an additional 325,000 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Match Group by 9.8% during the 4th quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock worth $316,422,000 after purchasing an additional 872,524 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Performance

NASDAQ:MTCH opened at $41.73 on Tuesday. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. Match Group Inc. has a one year low of $28.81 and a one year high of $41.79. The stock has a 50-day simple moving average of $38.13 and a 200 day simple moving average of $34.99.

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

Match Group Dividend Announcement

The company also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group’s payout ratio is 28.27%.

Insider Activity

In other news, Director Glenn Schiffman purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the transaction, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MTCH shares. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their price target on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Susquehanna restated a “positive” rating on shares of Match Group in a research note on Wednesday, August 5th. Piper Sandler set a $51.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $40.00 price target on shares of Match Group in a report on Wednesday, August 5th. One investment 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 company’s stock. According to MarketBeat, Match Group presently has an average rating of “Moderate Buy” and an average price target of $42.46.

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.