Sei Investments Co. Has $18.51 Million Position in Match Group Inc. $MTCH

Sei Investments Co. grew its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 16.0% during the 1st quarter, HoldingsChannel reports. The fund owned 602,832 shares of the technology company’s stock after acquiring an additional 83,343 shares during the period. Sei Investments Co.’s holdings in Match Group were worth $18,512,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MTCH. Advisory Services Network LLC acquired a new stake in Match Group during the third quarter valued at $28,000. Activest Wealth Management increased its position in Match Group by 6,523.1% in the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after purchasing an additional 848 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Match Group by 91.3% during the 1st quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after purchasing an additional 431 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Match Group by 53.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after purchasing an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Match Group during the 4th quarter valued at about $38,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTCH. Morgan Stanley raised their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. TD Cowen boosted their target price on shares of Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. UBS Group increased their price target on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Citigroup raised their price target on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.29.

Match Group Stock Up 0.3%

NASDAQ:MTCH opened at $39.40 on Thursday. The company’s 50 day moving average is $36.92 and its 200-day moving average is $34.07. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.03. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.63 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $0.44 EPS. Match Group’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts predict that Match Group Inc. will post 3.11 EPS for the current fiscal year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.20 per share. 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 is 30.53%.

Insider Activity

In other 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 sale, the director directly owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.