Match Group Inc. $MTCH Stock Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC reduced its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 95.9% during the third quarter, Holdings Channel reports. The institutional investor owned 12,426 shares of the technology company’s stock after selling 292,655 shares during the quarter. Curated Wealth Partners LLC’s holdings in Match Group were worth $499,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Match Group during the 2nd quarter valued at about $1,087,055,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Match Group in the second quarter worth $154,811,000. Bank of New York Mellon Corp bought a new stake in Match Group during the 2nd quarter valued at about $100,796,000. Renaissance Technologies LLC raised its holdings in Match Group by 196.6% in the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after acquiring an additional 2,117,414 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Match Group by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,183,576 shares of the technology company’s stock valued at $97,761,000 after purchasing an additional 92,364 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity at Match Group

In related news, Director Glenn Schiffman purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the transaction, the director directly owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen Bailey sold 4,760 shares of Match Group stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total value of $201,157.60. Following the transaction, the director owned 11,742 shares in the company, valued at approximately $496,216.92. This represents a 28.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,291 shares of company stock worth $976,478 in the last ninety days. 0.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on MTCH. TD Cowen decreased 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. Truist Financial upped their target price on shares of Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. assumed coverage on Match Group in a research report on Monday, August 24th. They issued a “neutral” rating and a $43.00 target price on the stock. Susquehanna restated a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company raised their price objective on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus target price of $42.46.

Match Group Stock Performance

Match Group stock opened at $42.95 on Friday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $44.94. The company has a market cap of $9.86 billion, a PE ratio of 14.70, a PEG ratio of 0.65 and a beta of 1.43. The business’s 50-day simple moving average is $41.03 and its two-hundred day simple moving average is $37.91.

Match Group (NASDAQ:MTCH) last posted 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 for the quarter, compared to analyst estimates of $857.77 million. During the same period last year, the company earned $0.49 earnings per share. Match Group’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts predict that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

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

Match Group Profile

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help users form romantic, social and relationship-oriented connections across a range of demographics, interests and relationship goals.

Its brands include Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, OurTime, BLK, Chispa and The League. These services are available through mobile applications and websites and generally offer features such as user profiles, matching, messaging, discovery tools and subscription or other paid enhancements.

Match Group traces its origins to Match.com and was established as a standalone public company after being spun off from IAC in 2020.