83,561 Shares in Match Group Inc. $MTCH Bought by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 83,561 shares of the technology company’s stock, valued at approximately $3,179,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caisse de depot et placement du Quebec acquired a new stake in shares of Match Group in the second quarter valued at about $1,727,000. Man Group plc acquired a new position in shares of Match Group during the 2nd quarter worth about $23,631,000. Polar Asset Management Partners Inc. acquired a new position in shares of Match Group during the 2nd quarter worth about $338,000. Jupiter Topco LLC purchased a new position in Match Group in the 2nd quarter valued at about $3,624,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Match Group during the second quarter valued at approximately $2,395,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Trading Up 0.9%

MTCH stock opened at $41.58 on Friday. The firm has a 50-day moving average of $38.61 and a two-hundred day moving average of $35.27. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $42.49. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.60 and a beta of 1.30.

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, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. As a group, equities analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

The business 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 1.9%. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Insiders Place Their Bets

In related news, Director Glenn Schiffman acquired 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were bought at an average price of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This represents a 5.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bailey sold 4,760 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the sale, the director owned 11,742 shares of the company’s stock, valued at approximately $496,216.92. The trade was a 28.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MTCH shares. UBS Group raised their target price on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Barclays raised their price objective on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. began coverage on shares of Match Group in a research note on Monday, August 24th. They set a “neutral” rating and a $43.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.