Redwood Investment Management LLC Invests $2.27 Million in Match Group Inc. $MTCH

Redwood Investment Management LLC bought a new stake in Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 59,783 shares of the technology company’s stock, valued at approximately $2,275,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in Match Group in the third quarter valued at approximately $28,000. Activest Wealth Management boosted 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 valued at $28,000 after buying an additional 848 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock valued at $29,000 after acquiring an additional 431 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of Match Group by 1,319.4% in the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after acquiring an additional 884 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Match Group by 53.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock valued at $33,000 after purchasing an additional 356 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Performance

Match Group stock opened at $42.07 on Thursday. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $42.49. The firm’s 50-day moving average is $38.38 and its 200-day moving average is $35.16. The company has a market cap of $9.66 billion, a P/E ratio of 14.87, a PEG ratio of 0.62 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $853.11 million for the quarter, compared to analyst estimates of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. Match Group’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, sell-side analysts predict that Match Group Inc. will post 3.31 earnings per share for the current year.

Match Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MTCH shares. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 price target on shares of Match Group in a report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on shares of Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Morgan Stanley set a $40.00 price target on shares of Match Group in a research report on Wednesday, August 5th. Finally, Truist Financial lifted their price target on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.46.

Insiders Place Their Bets

In other Match Group news, Director Glenn Schiffman acquired 3,000 shares of Match Group stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $36.63 per share, for a total transaction of $109,890.00. Following the transaction, the director owned 56,370 shares in the company, valued at approximately $2,064,833.10. This trade represents a 5.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by corporate insiders.

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.