Sanctuary Advisors LLC Makes New $569,000 Investment in Match Group Inc. $MTCH

Sanctuary Advisors LLC acquired a new position in Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,946 shares of the technology company’s stock, valued at approximately $569,000.

Several other hedge funds have also made changes to their positions in the stock. Activest Wealth Management increased its position in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after buying an additional 848 shares during the period. Advisory Services Network LLC bought a new position in shares of Match Group in the third quarter valued at approximately $28,000. Whittier Trust Co. boosted its stake in Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after purchasing an additional 431 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after buying an additional 356 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its stake in shares of Match Group by 1,319.4% in the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after purchasing an additional 884 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Transactions at Match Group

In other news, Director Glenn Schiffman bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the transaction, the director directly owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This trade represents a 5.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen Bailey sold 4,760 shares of Match Group stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total transaction of $201,157.60. Following the completion of the transaction, the director owned 11,742 shares of the company’s stock, valued at $496,216.92. This trade represents a 28.84% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of recent research reports. Susquehanna restated a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. TD Cowen cut their price target on Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, Truist Financial boosted their target price on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating 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 given a Hold rating to the company. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.46.

Match Group Stock Performance

NASDAQ MTCH opened at $41.58 on Friday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $42.49. The stock has a market cap of $9.54 billion, a PE ratio of 14.69, a PEG ratio of 0.61 and a beta of 1.30. The firm has a 50-day simple moving average of $38.61 and a 200 day simple moving average of $35.27.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $857.77 million. During the same period last year, the business earned $0.49 earnings per share. Match Group’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be given 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 28.27%.

Match Group 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.