Cookson Peirce & Co. Inc. Invests $492,000 in Match Group Inc. $MTCH

Cookson Peirce & Co. Inc. purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,923 shares of the technology company’s stock, valued at approximately $492,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of Match Group in the 3rd quarter worth $28,000. Whittier Trust Co. increased its holdings in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after purchasing an additional 431 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in Match Group by 1,319.4% in the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock valued at $36,000 after purchasing an additional 884 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in Match Group in the third quarter valued at about $43,000. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

MTCH opened at $41.58 on Monday. The stock has a market capitalization of $9.54 billion, a P/E ratio of 14.69, 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 $42.49. The firm’s fifty day simple moving average is $38.61 and its 200 day simple moving average is $35.29.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results 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. The firm 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 company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, equities research analysts predict that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors 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 of this dividend is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is currently 28.27%.

Insider Activity at Match Group

In other news, Director Glenn Schiffman bought 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were purchased at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the purchase, the director owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. The trade was a 5.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Philip D. Eigenmann sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the transaction, the chief accounting officer directly owned 19,389 shares of the company’s stock, valued at approximately $808,521.30. This trade represents a 43.62% decrease in their position. The SEC filing for this sale provides additional information. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MTCH shares. Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. TD Cowen lowered their target price on shares of Match Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. UBS Group increased their price target on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Truist Financial lifted their price objective on Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.46.

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.