First Trust Advisors LP Has $73.92 Million Position in Match Group Inc. $MTCH

First Trust Advisors LP lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 72.7% in the 1st quarter, Holdings Channel reports. The fund owned 2,406,923 shares of the technology company’s stock after acquiring an additional 1,013,569 shares during the quarter. First Trust Advisors LP’s holdings in Match Group were worth $73,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after purchasing an additional 5,652,174 shares during the period. Norges Bank bought a new position in shares of Match Group during the fourth quarter worth about $112,641,000. State Street Corp raised its position in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after buying an additional 2,461,025 shares during the last quarter. Bank of New York Mellon Corp raised its position in Match Group by 58.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company’s stock valued at $96,786,000 after buying an additional 1,111,419 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Match Group by 338.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock valued at $35,124,000 after acquiring an additional 882,821 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Barclays boosted their price target on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their target price on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. TD Cowen boosted their target price on shares of Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Piper Sandler set a $51.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Match Group has an average rating of “Hold” and a consensus target price of $41.29.

Match Group Price Performance

NASDAQ:MTCH opened at $37.91 on Friday. The company has a market cap of $8.84 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.61 and a beta of 1.30. The firm’s fifty day moving average price is $36.72 and its two-hundred day moving average price is $33.92. Match Group Inc. has a one year low of $28.81 and a one year high of $41.03.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The business had revenue of $863.93 million for the quarter, compared to analyst estimates of $854.70 million. During the same quarter in the prior year, the business earned $0.44 EPS. Match Group’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts expect that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a $0.20 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Match Group’s dividend payout ratio is 30.53%.

Insider Buying and Selling

In related news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director directly owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.71% of the company’s stock.

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.