Bellwether Advisors LLC Takes Position in Match Group Inc. $MTCH

Bellwether Advisors LLC purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 55,551 shares of the technology company’s stock, valued at approximately $1,962,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cresset Asset Management LLC lifted its holdings in Match Group by 138.8% during the 3rd quarter. Cresset Asset Management LLC now owns 23,036 shares of the technology company’s stock worth $814,000 after buying an additional 13,389 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Match Group in the third quarter worth approximately $1,863,000. Victory Capital Management Inc. boosted its holdings in Match Group by 42.3% in the third quarter. Victory Capital Management Inc. now owns 170,732 shares of the technology company’s stock valued at $6,030,000 after acquiring an additional 50,754 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in Match Group in the third quarter valued at approximately $1,214,000. Finally, 111 Capital acquired a new stake in Match Group during the 3rd quarter valued at approximately $338,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Performance

Shares of NASDAQ:MTCH opened at $30.80 on Wednesday. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The business’s 50 day simple moving average is $31.54 and its two-hundred day simple moving average is $33.41. The firm has a market cap of $7.27 billion, a P/E ratio of 12.94, a PEG ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 289.29% and a net margin of 17.59%.Match Group’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, equities analysts forecast that Match Group Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This is a boost from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. Match Group’s payout ratio is presently 31.93%.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of analyst reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Match Group in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Thursday, January 22nd. Wolfe Research set a $43.00 price objective on Match Group and gave the stock an “outperform” rating in a research report on Monday, January 5th. Truist Financial dropped their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday, February 4th. Finally, UBS Group set a $34.00 target price on Match Group in a research note on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.86.

Match Group Company Profile

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.