Bull Harbor Capital LLC Makes New Investment in Match Group Inc. $MTCH

Bull Harbor Capital LLC bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the first quarter, HoldingsChannel.com reports. The firm bought 29,523 shares of the technology company’s stock, valued at approximately $907,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Match Group by 14.6% during 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 during the period. Ameriprise Financial Inc. grew its position in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after purchasing an additional 162,330 shares during the period. Starboard Value LP increased its stake in Match Group by 2.9% in the fourth quarter. Starboard Value LP now owns 11,395,379 shares of the technology company’s stock valued at $367,957,000 after purchasing an additional 325,000 shares during the last quarter. Invesco Ltd. increased its stake in Match Group by 9.8% in the fourth quarter. Invesco Ltd. now owns 9,799,389 shares of the technology company’s stock valued at $316,422,000 after purchasing an additional 872,524 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Match Group by 32.8% during the fourth quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock worth $261,692,000 after buying an additional 2,011,970 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director directly owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. The trade was a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

MTCH has been the subject of several recent analyst reports. TD Cowen lifted their price target on Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their price objective on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating and set a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Match Group has an average rating of “Hold” and a consensus price target of $41.29.

Match Group Price Performance

Shares of MTCH opened at $39.31 on Friday. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $41.03. The stock has a market cap of $9.17 billion, a PE ratio of 15.00, a P/E/G ratio of 0.63 and a beta of 1.30. The stock’s 50-day moving average is $36.99 and its two-hundred day moving average is $34.12.

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

Match Group Announces Dividend

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

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.