VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 50,200 Match Group Inc. $MTCH

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Match Group Inc. (NASDAQ:MTCH) during the second quarter, Holdings Channel.com reports. The fund bought 50,200 shares of the technology company’s stock, valued at approximately $1,910,000.

A number of other institutional investors have also modified their holdings of MTCH. PointState Capital LP bought a new position in Match Group in the second quarter worth approximately $41,754,000. Man Group plc purchased a new stake in shares of Match Group in the 2nd quarter worth $23,631,000. Redwood Investment Management LLC purchased a new stake in shares of Match Group in the 2nd quarter worth $2,275,000. Punch & Associates Investment Management Inc. bought a new position in shares of Match Group during the 2nd quarter worth $13,180,000. Finally, Principal Financial Group Inc. grew its position in shares of Match Group by 338.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,143,744 shares of the technology company’s stock worth $35,124,000 after buying an additional 882,821 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ann Mcdaniel sold 3,531 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total value of $149,820.33. Following the completion of the sale, the director owned 26,839 shares of the company’s stock, valued at $1,138,778.77. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenn Schiffman bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the completion of the purchase, the director owned 56,370 shares in the company, valued at $2,064,833.10. The trade was a 5.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 23,291 shares of company stock valued at $976,478. Company insiders own 0.71% of the company’s stock.

Match Group Stock Performance

MTCH stock opened at $42.39 on Friday. Match Group Inc. has a one year low of $28.81 and a one year high of $43.47. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.61 and a beta of 1.32. The firm has a 50-day simple moving average of $39.60 and a two-hundred day simple moving average of $36.02.

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

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is currently 28.27%.

Analyst Ratings Changes

Several research firms recently weighed in on MTCH. Susquehanna restated a “positive” rating on shares of Match Group in a report on Wednesday, August 5th. Morgan Stanley set a $40.00 target price on shares of Match Group in a report on Wednesday, August 5th. Truist Financial raised their target price on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price target on shares of Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Match Group in a research report on Monday, August 24th. They issued a “neutral” rating and a $43.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.46.

Match Group Company Profile

Match Group, Inc is a provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help people form connections, including Tinder, Hinge, Match, Plenty of Fish, OkCupid, Meetic, OurTime, BLK and Chispa. Its services are offered through websites and mobile applications, with features that may include profile discovery, messaging, matching, subscriptions and other paid enhancements.

Match Group serves users in markets around the world, with brands tailored to different audiences, relationship goals, age groups and geographic regions.