SaddleRock Capital Management LLC Acquires Shares of 257,922 Match Group Inc. $MTCH

SaddleRock Capital Management LLC acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 257,922 shares of the technology company’s stock, valued at approximately $9,814,000. Match Group comprises about 9.5% of SaddleRock Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. SaddleRock Capital Management LLC owned 0.11% of Match Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MTCH. BlackRock Inc. bought a new position in shares of Match Group during the second quarter valued at about $1,087,055,000. AQR Capital Management LLC grew its position 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 in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Match Group in the 2nd quarter worth about $154,811,000. Norges Bank purchased a new stake in Match Group in the 4th quarter valued at about $112,641,000. Finally, Bank of New York Mellon Corp purchased a new stake in Match Group in the 2nd quarter valued at about $100,796,000. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Glenn Schiffman bought 3,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the transaction, the director directly owned 56,370 shares of the company’s stock, valued at $2,064,833.10. This represents a 5.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

MTCH has been the topic of several recent analyst reports. Piper Sandler set a $51.00 target price on shares of Match Group in a research report on Wednesday, May 6th. JPMorgan Chase & Co. assumed coverage on Match Group in a report on Monday. They issued a “neutral” rating and a $43.00 target price for the company. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Truist Financial lifted their price target on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Finally, UBS Group boosted their price objective on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.46.

Match Group Stock Performance

NASDAQ MTCH opened at $41.73 on Tuesday. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $41.79. The company has a 50-day simple moving average of $38.13 and a 200 day simple moving average of $34.99. The company has a market capitalization of $9.58 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data 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 net margin of 20.17% and a negative return on equity of 324.82%. The business had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts forecast that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Dividend Announcement

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

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.