Neuberger Berman Group LLC Lowers Position in Match Group Inc. $MTCH

Neuberger Berman Group LLC trimmed its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 38.9% during the 3rd quarter, Holdings Channel reports. The fund owned 3,231,214 shares of the technology company’s stock after selling 2,055,988 shares during the period. Neuberger Berman Group LLC’s holdings in Match Group were worth $114,126,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of Match Group by 8.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after purchasing an additional 326 shares during the period. Bessemer Group Inc. increased its holdings in Match Group by 2.8% during the third quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock valued at $432,000 after buying an additional 333 shares during the period. Bollard Group LLC increased its holdings in Match Group by 0.7% during the second quarter. Bollard Group LLC now owns 54,558 shares of the technology company’s stock valued at $1,685,000 after buying an additional 356 shares during the period. Rossby Financial LCC raised its stake in Match Group by 126.5% in the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after buying an additional 506 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its stake in Match Group by 23.8% in the second quarter. Resona Asset Management Co. Ltd. now owns 2,676 shares of the technology company’s stock worth $83,000 after buying an additional 514 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 2.7%

NASDAQ MTCH opened at $30.47 on Friday. The firm’s fifty day simple moving average is $31.42 and its two-hundred day simple moving average is $33.33. The firm has a market capitalization of $7.19 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.51 and a beta of 1.30. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.17). The business had revenue of $878.01 million for the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. As a group, sell-side analysts predict that Match Group Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a yield of 2.6%. This is an increase from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio is currently 31.93%.

Analyst Ratings Changes

Several brokerages have issued reports on MTCH. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. UBS Group set a $34.00 price target on Match Group in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. JPMorgan Chase & Co. cut their target price on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.86.

Match Group Company 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.