Bridgefront Capital LLC Takes Position in Match Group Inc. $MTCH

Bridgefront Capital LLC acquired a new position in Match Group Inc. (NASDAQ:MTCH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,282 shares of the technology company’s stock, valued at approximately $716,000.

Several other large investors also recently added to or reduced their stakes in MTCH. Harbor Capital Advisors Inc. purchased a new stake in Match Group during the third quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new position in shares of Match Group during the 3rd quarter worth $27,000. Employees Retirement System of Texas purchased a new position in shares of Match Group during the 2nd quarter worth $28,000. Rossby Financial LCC grew its position in shares of 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 acquiring an additional 506 shares during the period. Finally, Caldwell Trust Co bought a new stake in shares of Match Group during the 2nd quarter valued at $32,000. 94.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. TD Cowen cut 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. Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Match Group in a research report on Wednesday, December 10th. UBS Group reaffirmed a “neutral” rating on shares of Match Group in a research note on Friday. Finally, Morgan Stanley set a $35.00 price objective on Match Group in a research report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.86.

Match Group Price Performance

Shares of MTCH stock opened at $30.79 on Monday. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The company’s fifty day moving average price is $31.28 and its 200-day moving average price is $33.04. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.50 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 for the quarter, missing the consensus estimate of $1.00 by ($0.17). Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The firm had revenue of $878.01 million during the quarter, compared to the consensus estimate of $872.86 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Match Group Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, April 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis 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 of this dividend is Tuesday, April 7th. Match Group’s dividend payout ratio is currently 31.93%.

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.