Match Group Inc. $MTCH Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 31.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,299 shares of the technology company’s stock after selling 175,841 shares during the period. Citigroup Inc. owned approximately 0.16% of Match Group worth $13,785,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Match Group by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in Match Group by 7.8% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company’s stock worth $180,798,000 after acquiring an additional 424,232 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Match Group by 7.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,287,202 shares of the technology company’s stock worth $163,322,000 after purchasing an additional 349,963 shares during the period. LSV Asset Management lifted its stake in shares of Match Group by 37.8% in the 3rd quarter. LSV Asset Management now owns 4,770,780 shares of the technology company’s stock valued at $168,504,000 after purchasing an additional 1,307,949 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Match Group during the 2nd quarter worth about $134,429,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

MTCH has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research note on Thursday, January 22nd. Raymond James Financial reissued a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Wells Fargo & Company decreased their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Evercore lowered their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, November 5th. Finally, TD Cowen decreased their price target on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Five equities 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, Match Group currently has a consensus rating of “Hold” and a consensus price target of $35.86.

Match Group Trading Down 1.9%

NASDAQ:MTCH opened at $31.60 on Friday. The stock has a 50 day moving average of $31.60 and a 200-day moving average of $33.58. The firm has a market capitalization of $7.46 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.32. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.17). The firm had revenue of $878.01 million during the quarter, compared to the consensus estimate of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. As a group, analysts predict 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, April 7th. Match Group’s dividend payout ratio is 31.93%.

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.