Illinois Municipal Retirement Fund Buys 20,627 Shares of Match Group Inc. $MTCH

Illinois Municipal Retirement Fund lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 11.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,189 shares of the technology company’s stock after purchasing an additional 20,627 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.08% of Match Group worth $5,994,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Signet Financial Management LLC acquired a new position in Match Group during the 1st quarter worth approximately $358,000. Sanctuary Advisors LLC grew its stake in Match Group by 20.1% in the first quarter. Sanctuary Advisors LLC now owns 17,602 shares of the technology company’s stock valued at $541,000 after acquiring an additional 2,951 shares during the period. Maryland State Retirement & Pension System increased its holdings in shares of Match Group by 282.6% during the first quarter. Maryland State Retirement & Pension System now owns 46,628 shares of the technology company’s stock valued at $1,432,000 after acquiring an additional 34,440 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Match Group by 537.9% during the first quarter. Hillsdale Investment Management Inc. now owns 152,450 shares of the technology company’s stock valued at $4,682,000 after acquiring an additional 128,550 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Match Group during the first quarter worth approximately $689,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTCH has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Citigroup upped their price objective on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley raised their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, TD Cowen lifted their price objective on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.29.

Match Group Trading Down 2.8%

Shares of Match Group stock opened at $39.15 on Friday. The stock has a fifty day simple moving average of $36.46 and a 200 day simple moving average of $33.71. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.03. The company has a market capitalization of $9.13 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The company had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts predict that Match Group Inc. will post 3.11 EPS for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.0%. Match Group’s dividend payout ratio (DPR) is 30.53%.

Insider Buying and Selling

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This trade represents a 24.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

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.