DNB Asset Management AS Boosts Stake in Match Group Inc. $MTCH

DNB Asset Management AS increased its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 69.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,581,589 shares of the technology company’s stock after purchasing an additional 1,060,038 shares during the quarter. DNB Asset Management AS owned 1.07% of Match Group worth $91,182,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of MTCH. Harbor Capital Advisors Inc. purchased a new position in Match Group in the 3rd quarter worth approximately $25,000. Root Financial Partners LLC acquired a new position in shares of Match Group during the third quarter worth $27,000. Employees Retirement System of Texas purchased a new position in shares of Match Group in the second quarter valued at $28,000. Rossby Financial LCC grew its holdings in Match Group by 126.5% during the 3rd quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock valued at $31,000 after purchasing an additional 506 shares in the last quarter. Finally, Caldwell Trust Co purchased a new stake in Match Group during the 2nd quarter worth $32,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Up 2.7%

NASDAQ:MTCH opened at $32.22 on Friday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The company has a market cap of $7.61 billion, a PE ratio of 13.54, a P/E/G ratio of 0.60 and a beta of 1.32. The business’s 50 day moving average is $31.63 and its two-hundred day moving average is $33.60.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). The firm had revenue of $878.01 million for the quarter, compared to analyst estimates of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, sell-side analysts expect that Match Group Inc. will post 2.44 EPS for the current fiscal year.

Match Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be issued a $0.20 dividend. This is a boost from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. Match Group’s dividend payout ratio (DPR) is presently 31.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. Raymond James Financial reissued a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. UBS Group set a $34.00 price objective on Match Group in a report on Wednesday, February 4th. Truist Financial cut their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, February 4th. Finally, Morgan Stanley set a $35.00 target price on Match Group in a research note on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.86.

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.