Foster & Motley Inc. Boosts Position in Match Group Inc. $MTCH

Foster & Motley Inc. grew its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 43.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,856 shares of the technology company’s stock after buying an additional 21,317 shares during the period. Foster & Motley Inc.’s holdings in Match Group were worth $2,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Match Group by 1,163.7% during the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock valued at $216,791,000 after acquiring an additional 5,652,174 shares in the last quarter. Norges Bank purchased a new stake in Match Group in the 4th quarter worth approximately $112,641,000. Holocene Advisors LP boosted its holdings in Match Group by 2,474.5% in the 3rd quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock valued at $96,832,000 after purchasing an additional 2,635,085 shares during the period. State Street Corp boosted its holdings 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 purchasing an additional 2,461,025 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Match Group by 58.9% during 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 purchasing an additional 1,111,419 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTCH has been the topic of several research analyst reports. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. TD Cowen boosted their target price on Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their price target on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.07.

Match Group Stock Up 6.4%

Shares of MTCH stock opened at $37.17 on Friday. The business has a 50-day moving average price of $35.81 and a two-hundred day moving average price of $33.11. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $39.20. The firm has a market cap of $8.67 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.56 and a beta of 1.33.

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

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.2%. Match Group’s dividend payout ratio is presently 30.53%.

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.71% of the stock is currently owned by company insiders.

About Match Group

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.