American Century Companies Inc. Increases Stock Holdings in Match Group Inc. $MTCH

American Century Companies Inc. lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 112.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,556 shares of the technology company’s stock after buying an additional 235,059 shares during the quarter. American Century Companies Inc. owned about 0.18% of Match Group worth $15,666,000 at the end of the most recent reporting period.

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

Match Group Trading Down 0.9%

Shares of MTCH stock opened at $30.84 on Wednesday. The stock has a 50 day simple moving average of $31.37 and a 200-day simple moving average of $33.19. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.50 and a beta of 1.30. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.17). The business had revenue of $878.01 million during the quarter, compared to analysts’ expectations of $872.86 million. Match Group had a net margin of 17.59% and a negative return on equity of 289.29%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. This is a positive change from Match Group’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, April 7th. Match Group’s dividend payout ratio (DPR) is 31.93%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MTCH shares. TD Cowen reduced their target price on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Morgan Stanley set a $35.00 price target on Match Group in a research report on Wednesday, February 4th. Truist Financial reduced their price objective on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Wednesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. Five research 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 an average rating of “Hold” and an average target price 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.