State of Wyoming Makes New Investment in Match Group Inc. $MTCH

State of Wyoming purchased a new position in Match Group Inc. (NASDAQ:MTCH) during the second quarter, Holdings Channel reports. The fund purchased 14,551 shares of the technology company’s stock, valued at approximately $554,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Woodline Partners LP bought a new stake in shares of Match Group during the 1st quarter worth $662,000. Northwestern Mutual Wealth Management Co. increased its stake in Match Group by 20.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after acquiring an additional 891 shares during the last quarter. First Trust Advisors LP increased its stake in Match Group by 45.9% in the second quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after acquiring an additional 204,472 shares during the last quarter. Amundi raised its position in Match Group by 1,477.6% during the second quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after purchasing an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Match Group during the second quarter valued at about $298,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MTCH. Weiss Ratings upgraded Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Zacks Research raised Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. UBS Group boosted their target price on Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $40.00 price target on shares of Match Group in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.54.

Insider Transactions at Match Group

In related news, Director Glenn Schiffman purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were acquired at an average cost of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director directly owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.71% of the stock is currently owned by insiders.

Match Group Price Performance

NASDAQ MTCH opened at $37.95 on Monday. The company has a 50-day simple moving average of $37.53 and a two-hundred day simple moving average of $34.62. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.40. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.56 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analysts’ expectations of $857.77 million. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. Equities analysts expect that Match Group Inc. will post 3.31 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Monday, October 5th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio (DPR) is presently 28.27%.

Match Group News Roundup

Here are the key news stories impacting Match Group this week:

• Positive Sentiment: Zacks upgraded Match Group to Rank #1, or “Strong Buy,” and included MTCH among its top growth stocks. The upgrade may attract additional quantitative and growth-focused buying interest. Best Growth Stocks to Buy for August 14th
• Positive Sentiment: Director Glenn Schiffman purchased 3,000 shares for approximately $109,890, increasing his direct stake by 5.62%. Open-market insider buying can signal confidence in Match Group’s valuation and outlook. Match Group Director Purchases Shares
• Neutral Sentiment: Match Group’s latest quarterly results showed EPS of $0.70 versus the $0.65 consensus estimate, but revenue of $853.1 million missed expectations and declined 1.2% year over year. The mixed performance leaves investors focused on whether growth can reaccelerate.
• Negative Sentiment: Director Schiffman separately sold 20,030 shares for approximately $736,703, representing 27% of his direct holdings. Although the same-day purchase partially offsets the signal, the much larger disposition could weigh on sentiment and suggests caution from at least one insider. Match Group Director Sells Shares

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.