PointState Capital LP Purchases New Position in Match Group Inc. $MTCH

PointState Capital LP acquired a new position in Match Group Inc. (NASDAQ:MTCH) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,097,337 shares of the technology company’s stock, valued at approximately $41,754,000.

Several other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Match Group by 1.9% in the 2nd quarter. Versant Capital Management Inc now owns 15,463 shares of the technology company’s stock worth $588,000 after purchasing an additional 289 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Match Group by 3.1% in the first quarter. Bessemer Group Inc. now owns 10,327 shares of the technology company’s stock worth $317,000 after purchasing an additional 311 shares during the last quarter. Bollard Group LLC lifted its holdings in shares of Match Group by 0.6% during the first quarter. Bollard Group LLC now owns 52,928 shares of the technology company’s stock valued at $1,625,000 after purchasing an additional 322 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after buying an additional 326 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of 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 buying an additional 356 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Price Performance

Shares of MTCH opened at $42.07 on Thursday. Match Group Inc. has a one year low of $28.81 and a one year high of $42.49. The firm has a market capitalization of $9.66 billion, a P/E ratio of 14.87, a PEG ratio of 0.62 and a beta of 1.30. The business has a fifty day moving average of $38.38 and a 200 day moving average of $35.16.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. Match Group’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts expect that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, October 5th. Match Group’s dividend payout ratio is 28.27%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTCH. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Zacks Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price target on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. began coverage on shares of Match Group in a report on Monday. They set a “neutral” rating and a $43.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of Match Group from $37.00 to $41.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Match Group presently has an average rating of “Moderate Buy” and an average target price of $42.46.

Insider Buying and Selling

In related news, Director Glenn Schiffman bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of $36.63 per share, with a total value of $109,890.00. Following the acquisition, the director owned 56,370 shares in the company, valued at $2,064,833.10. This trade represents a 5.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.