California Public Employees Retirement System Acquires 43,914 Shares of Match Group Inc. $MTCH

California Public Employees Retirement System lifted its holdings in Match Group Inc. (NASDAQ:MTCH) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 673,271 shares of the technology company’s stock after purchasing an additional 43,914 shares during the quarter. California Public Employees Retirement System owned 0.29% of Match Group worth $20,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in Match Group in the 3rd quarter worth about $28,000. Activest Wealth Management lifted its stake in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after acquiring an additional 848 shares during the period. Whittier Trust Co. lifted its stake in Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after acquiring an additional 431 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after acquiring an additional 356 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Match Group during the 4th quarter valued at about $38,000. 94.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have recently weighed in on MTCH shares. Piper Sandler set a $51.00 price objective on shares of Match Group in a report on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and issued a $43.00 target price on shares of Match Group in a report on Wednesday, May 6th. Morgan Stanley lifted their target price on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. UBS Group boosted their target price on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Match Group presently has an average rating of “Hold” and a consensus target price of $41.29.

Match Group Stock Down 1.9%

Match Group stock opened at $38.03 on Thursday. The business has a 50-day simple moving average of $36.63 and a two-hundred day simple moving average of $33.85. The company has a market cap of $8.87 billion, a P/E ratio of 14.52, a P/E/G ratio of 0.62 and a beta of 1.30. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $41.03.

Match Group (NASDAQ:MTCH) last released its quarterly 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. The firm had revenue of $863.93 million during the quarter, compared to analyst estimates of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. Research analysts anticipate that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 7th. Match Group’s dividend payout ratio is currently 30.53%.

Match Group 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.