Maverick Capital Ltd. Acquires Shares of 34,543 Match Group Inc. $MTCH

Maverick Capital Ltd. acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,543 shares of the technology company’s stock, valued at approximately $1,061,000.

A number of other institutional investors have also recently bought and sold shares of the company. Woodline Partners LP acquired a new position in Match Group during the first quarter worth $662,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock worth $162,000 after acquiring an additional 891 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Match Group by 45.9% during the 2nd 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 stake in shares of Match Group by 1,477.6% in the 2nd quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after acquiring an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in Match Group in the 2nd quarter worth approximately $298,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Up 1.2%

Shares of MTCH opened at $39.28 on Wednesday. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 0.62 and a beta of 1.30. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.03. The company has a 50-day moving average price of $36.85 and a two-hundred day moving average price of $34.02.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $863.93 million during 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS. Equities research analysts expect that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is presently 30.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MTCH shares. Royal Bank Of Canada lifted their price target on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. TD Cowen lifted their target price on shares of Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, May 4th. UBS Group raised their price target on Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price objective on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.29.

Insider Activity at Match Group

In related news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director owned 16,218 shares in the company, valued at $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 available at the SEC website. Company insiders own 0.71% of the company’s stock.

About Match Group

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.