Illinois Municipal Retirement Fund Buys 20,627 Shares of Match Group Inc. $MTCH

Illinois Municipal Retirement Fund lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 11.8% during the first quarter, HoldingsChannel.com reports. The firm owned 195,189 shares of the technology company’s stock after purchasing an additional 20,627 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Match Group were worth $5,994,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in MTCH. Activest Wealth Management boosted its stake 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 period. Advisory Services Network LLC bought a new stake in shares of Match Group during the third quarter valued at about $28,000. Whittier Trust Co. lifted its holdings in shares of Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after buying an additional 431 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after buying an additional 356 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Match Group in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the firm’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 sale, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

Match Group Trading Down 2.8%

Shares of MTCH opened at $39.15 on Friday. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $41.03. The company has a market cap of $9.13 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The stock has a 50-day moving average price of $36.46 and a 200-day moving average price of $33.71.

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 for the quarter, compared to the consensus estimate of $854.70 million. During the same period last year, the firm posted $0.44 earnings per share. Match Group’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts predict that Match Group Inc. will post 3.11 earnings per share for the current year.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is 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 is presently 30.53%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Match Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Piper Sandler set a $51.00 price target on shares of Match Group in a report on Wednesday, May 6th. Morgan Stanley boosted their price target 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. Finally, Truist Financial set a $37.00 price target on shares of Match Group in a 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 company. According to data from MarketBeat.com, Match Group presently has an average rating of “Hold” and a consensus price target of $41.29.

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.