Oppenheimer & Co. Inc. Sells 23,973 Shares of Match Group Inc. $MTCH

Oppenheimer & Co. Inc. lowered its holdings in Match Group Inc. (NASDAQ:MTCH) by 80.3% during the 3rd quarter, Holdings Channel reports. The firm owned 5,887 shares of the technology company’s stock after selling 23,973 shares during the period. Oppenheimer & Co. Inc.’s holdings in Match Group were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Match Group during the 2nd quarter valued at $1,087,055,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Match Group in the 2nd quarter worth about $154,811,000. Bank of New York Mellon Corp purchased a new position in shares of Match Group in the 2nd quarter worth about $100,796,000. Renaissance Technologies LLC boosted its holdings in shares of Match Group by 196.6% in the 1st quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock worth $98,099,000 after buying an additional 2,117,414 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Match Group by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,183,576 shares of the technology company’s stock valued at $97,761,000 after buying an additional 92,364 shares during the period. Institutional investors own 94.05% of the company’s stock.

Key Headlines Impacting Match Group

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

• Positive Sentiment: Citigroup said Match Group’s shares were expected to rise, while Barclays and Truist Financial raised their price targets. UBS also forecast strong potential appreciation, providing a positive counterweight to the downgrade. Citigroup analyst coverage Barclays price target Truist price target UBS forecast
• Neutral Sentiment: Match Group’s Q3 earnings-call presentation was published, but the headline provided no new details on results or guidance. The supplied earnings figures show EPS modestly beat estimates, while revenue was slightly below consensus and down year over year. Q3 earnings-call presentation
• Negative Sentiment: A separate analyst downgrade was reported alongside a 5.9% drop in Match Group shares, signaling that more cautious views are weighing on sentiment despite the price-target increases. Analyst downgrade and share decline

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Wells Fargo & Company lowered their price objective on shares of Match Group from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 3rd. Evercore upgraded shares of Match Group from a “cautious” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Monday, October 19th. Morgan Stanley set a $40.00 target price on shares of Match Group in a research report on Wednesday, August 5th. Finally, Needham & Company LLC upgraded shares of Match Group to a “buy” rating in a research note on Tuesday. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.64.

Insider Buying and Selling at Match Group

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the acquisition, the director directly owned 56,370 shares in the company, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mcdaniel sold 3,531 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total transaction of $149,820.33. Following the transaction, the director owned 26,839 shares of the company’s stock, valued at $1,138,778.77. This represents a 11.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,291 shares of company stock valued at $976,478 in the last three months. 0.71% of the stock is owned by company insiders.

Match Group Price Performance

Shares of MTCH opened at $39.03 on Friday. The firm has a market cap of $8.96 billion, a PE ratio of 13.28, a PEG ratio of 0.57 and a beta of 1.47. The stock’s fifty day moving average price is $42.07 and its two-hundred day moving average price is $36.69. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $46.67.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Monday, November 2nd. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Match Group had a negative return on equity of 361.92% and a net margin of 20.69%. The company had revenue of $891.23 million during the quarter, compared to the consensus estimate of $892.45 million. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Match Group Inc. will post 3.19 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 21st. Investors of record on Wednesday, January 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, January 6th. Match Group’s payout ratio is currently 27.21%.

Match Group Company Profile

Match Group, Inc is a global provider of online dating products and services. Its portfolio includes Tinder, Hinge, Match, OkCupid, Plenty of Fish, Meetic, and OurTime, among other brands. These services help people meet and build relationships through mobile apps and websites, with features and subscription options that vary by brand and market.

The company serves users in countries around the world. Its brands are designed for different audiences and dating preferences, from broad-based platforms to services focused on particular age groups or regions.

Match Group traces its roots to Match.com, which launched in 1995.