SaddleRock Capital Management LLC Takes $9.81 Million Position in Match Group Inc. $MTCH

SaddleRock Capital Management LLC purchased a new stake in Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 257,922 shares of the technology company’s stock, valued at approximately $9,814,000. Match Group accounts for about 9.5% of SaddleRock Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding.

A number of other institutional investors also recently modified their holdings of MTCH. Woodline Partners LP purchased a new stake in shares of Match Group during the first quarter worth $662,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Match Group by 20.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after acquiring an additional 891 shares during the period. First Trust Advisors LP grew its position in shares of Match Group by 45.9% in the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after purchasing an additional 204,472 shares in the last quarter. Amundi grew its position in shares of Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after purchasing an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new stake in shares of Match Group during the 2nd quarter valued at $298,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MTCH shares. UBS Group increased their price objective on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. TD Cowen reduced their target price on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Citigroup upped their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Truist Financial raised their price objective on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.46.

Match Group Price Performance

MTCH opened at $41.73 on Tuesday. The firm has a market capitalization of $9.58 billion, a P/E 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 company has a fifty day moving average price of $38.13 and a 200-day moving average price of $34.99.

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

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling at Match Group

In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is currently owned by insiders.

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.