Weiss Asset Management LP Grows Holdings in Match Group Inc. $MTCH

Weiss Asset Management LP lifted its position in Match Group Inc. (NASDAQ:MTCH) by 903.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,853 shares of the technology company’s stock after purchasing an additional 105,213 shares during the period. Weiss Asset Management LP owned about 0.05% of Match Group worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Woodline Partners LP bought a new position in Match Group in the 1st quarter worth approximately $662,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Match Group by 20.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after buying an additional 891 shares during the last quarter. First Trust Advisors LP raised its position in shares of Match Group by 45.9% during the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after buying an additional 204,472 shares during the last quarter. Amundi lifted its holdings in shares of Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company’s stock worth $11,637,000 after buying an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in shares of Match Group during the second quarter worth $298,000. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’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 in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MTCH. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Citigroup boosted their price target on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. TD Cowen increased their price objective on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. UBS Group raised their price objective on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.29.

Match Group Stock Performance

NASDAQ MTCH opened at $37.91 on Monday. The business’s 50 day moving average price is $36.72 and its 200-day moving average price is $33.93. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $41.03. 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.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, topping the consensus estimate 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 company had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Match Group’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Dividend Announcement

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

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.