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

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

A number of other large investors have also recently made changes to their positions in MTCH. Bessemer Group Inc. increased its holdings in Match Group by 3.1% in the 1st quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock worth $317,000 after acquiring an additional 311 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Match Group by 8.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after acquiring an additional 326 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. Mather Group LLC. lifted its holdings in Match Group by 6.0% during the fourth quarter. Mather Group LLC. now owns 6,477 shares of the technology company’s stock valued at $209,000 after purchasing an additional 364 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Match Group by 9.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 5,034 shares of the technology company’s stock worth $163,000 after purchasing an additional 421 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen increased their price objective on shares of Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Truist Financial set a $37.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 price target on shares of Match Group in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada raised their price target on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Match Group currently has an average rating of “Hold” and a consensus price target of $41.29.

Match Group Price Performance

MTCH stock opened at $38.03 on Thursday. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $41.03. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.62 and a beta of 1.30. The business has a 50 day simple moving average of $36.63 and a two-hundred day simple moving average of $33.85.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $863.93 million for the quarter, compared to analysts’ expectations of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Sell-side analysts anticipate that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is presently 30.53%.

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction 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 sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. The trade was a 24.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

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.