Renaissance Technologies LLC Acquires 2,117,414 Shares of Match Group Inc. $MTCH

Renaissance Technologies LLC grew its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 196.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,194,368 shares of the technology company’s stock after buying an additional 2,117,414 shares during the period. Renaissance Technologies LLC’s holdings in Match Group were worth $98,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. AQR Capital Management LLC boosted its holdings in Match Group by 1,163.7% in the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock valued at $216,791,000 after acquiring an additional 5,652,174 shares in the last quarter. Norges Bank bought a new position in Match Group in the 4th quarter worth $112,641,000. State Street Corp raised its holdings in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Match Group by 58.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company’s stock worth $96,786,000 after purchasing an additional 1,111,419 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Match Group by 72.7% during the 1st quarter. First Trust Advisors LP now owns 2,406,923 shares of the technology company’s stock valued at $73,917,000 after purchasing an additional 1,013,569 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of 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 at this hyperlink. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MTCH shares. TD Cowen increased their price target 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. Weiss Ratings raised Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $43.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of “Hold” and an average target price of $41.29.

Match Group Price Performance

NASDAQ:MTCH opened at $37.91 on Friday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 14.47, a PEG ratio of 0.61 and a beta of 1.30. Match Group Inc. has a one year low of $28.81 and a one year high of $41.03. The company’s 50-day simple moving average is $36.72 and its 200 day simple moving average is $33.92.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $863.93 million during the quarter, compared to the consensus estimate of $854.70 million. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts expect that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Match Group Announces Dividend

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

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.