Match Group Inc. $MTCH Stock Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in Match Group Inc. (NASDAQ:MTCH) by 19.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,938 shares of the technology company’s stock after selling 19,165 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Match Group were worth $3,089,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in Match Group during the 2nd quarter worth approximately $77,859,000. PointState Capital LP bought a new stake in Match Group during the 2nd quarter worth approximately $41,754,000. Man Group plc bought a new stake in Match Group during the 2nd quarter worth approximately $23,631,000. Redwood Investment Management LLC acquired a new position in Match Group in the 2nd quarter valued at approximately $2,275,000. Finally, Punch & Associates Investment Management Inc. acquired a new position in Match Group in the 2nd quarter valued at approximately $13,180,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Philip D. Eigenmann sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $41.70, for a total transaction of $625,500.00. Following the completion of the sale, the chief accounting officer owned 19,389 shares of the company’s stock, valued at $808,521.30. This trade represents a 43.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mcdaniel sold 3,531 shares of Match Group stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the sale, the director directly owned 26,839 shares of the company’s stock, valued at approximately $1,138,778.77. This trade represents a 11.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 23,291 shares of company stock valued at $976,478. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several analyst reports. Weiss Ratings raised shares of Match Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Zacks Research downgraded Match Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Truist Financial raised their target price on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Morgan Stanley set a $40.00 target price on Match Group in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on Match Group in a report on Monday, August 24th. They set a “neutral” rating and a $43.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Match Group presently has a consensus rating of “Moderate Buy” and an average price target of $43.85.

Match Group Price Performance

Shares of MTCH stock opened at $45.73 on Friday. The stock has a market capitalization of $10.50 billion, a PE ratio of 16.16, a PEG ratio of 0.68 and a beta of 1.43. The business’s 50 day simple moving average is $41.91 and its 200 day simple moving average is $38.43. Match Group Inc. has a one year low of $28.81 and a one year high of $46.67.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. As a group, research analysts expect that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th were given a dividend of $0.20 per share. The ex-dividend date was Monday, October 5th. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Match Group’s dividend payout ratio is 28.27%.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.