Summit Global Investments Purchases Shares of 19,228 Match Group Inc. $MTCH

Summit Global Investments acquired a new stake in Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,228 shares of the technology company’s stock, valued at approximately $732,000.

A number of other hedge funds have also recently made changes to their positions in MTCH. Principal Financial Group Inc. grew its stake in Match Group by 338.3% during the first quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock valued at $35,124,000 after acquiring an additional 882,821 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Match Group by 97.2% in the 1st quarter. Deprince Race & Zollo Inc. now owns 1,549,147 shares of the technology company’s stock valued at $47,574,000 after acquiring an additional 763,764 shares during the last quarter. Bank of America Corp DE lifted its stake in Match Group by 11.8% in the 1st quarter. Bank of America Corp DE now owns 3,054,114 shares of the technology company’s stock worth $93,792,000 after purchasing an additional 323,006 shares in the last quarter. Swedbank AB lifted its stake in Match Group by 22.3% in the 4th quarter. Swedbank AB now owns 816,800 shares of the technology company’s stock worth $26,374,000 after purchasing an additional 148,700 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Match Group by 537.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 152,450 shares of the technology company’s stock valued at $4,682,000 after purchasing an additional 128,550 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MTCH shares. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup boosted their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. UBS Group increased their price target on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.54.

Match Group Stock Up 1.8%

MTCH stock opened at $37.95 on Friday. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $41.40. The company has a fifty day simple moving average of $37.53 and a two-hundred day simple moving average of $34.60. The firm has a market capitalization of $8.71 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 0.56 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $857.77 million. During the same period last year, the company posted $0.49 EPS. The business’s revenue was down 1.2% on a year-over-year basis. As a group, analysts anticipate that Match Group Inc. will post 3.31 EPS for the current year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be given a $0.20 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.80 annualized dividend and a yield of 2.1%. Match Group’s dividend payout ratio (DPR) is currently 28.27%.

Key Headlines Impacting Match Group

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Zacks upgraded Match Group to Rank #1, or “Strong Buy,” and included MTCH among its top growth stocks. The upgrade may attract additional quantitative and growth-focused buying interest. Best Growth Stocks to Buy for August 14th
• Positive Sentiment: Director Glenn Schiffman purchased 3,000 shares for approximately $109,890, increasing his direct stake by 5.62%. Open-market insider buying can signal confidence in Match Group’s valuation and outlook. Match Group Director Purchases Shares
• Neutral Sentiment: Match Group’s latest quarterly results showed EPS of $0.70 versus the $0.65 consensus estimate, but revenue of $853.1 million missed expectations and declined 1.2% year over year. The mixed performance leaves investors focused on whether growth can reaccelerate.
• Negative Sentiment: Director Schiffman separately sold 20,030 shares for approximately $736,703, representing 27% of his direct holdings. Although the same-day purchase partially offsets the signal, the much larger disposition could weigh on sentiment and suggests caution from at least one insider. Match Group Director Sells Shares

Insider Buying and Selling

In related news, Director Glenn Schiffman acquired 3,000 shares of Match Group stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the purchase, the director directly owned 56,370 shares of the company’s stock, valued at $2,064,833.10. The trade was a 5.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.71% of the company’s stock.

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.