Match Group, Inc. (NASDAQ:MTCH) CEO Acquires $1,988,324.25 in Stock

Match Group, Inc. (NASDAQ:MTCH) CEO Spencer M. Rascoff bought 70,885 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was acquired at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the transaction, the chief executive officer now owns 137,478 shares of the company’s stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $29.41 on Thursday. Match Group, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84. The business has a 50-day moving average of $29.87 and a two-hundred day moving average of $31.94. The stock has a market capitalization of $7.37 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.82 and a beta of 1.42.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a $0.19 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.58%. Match Group’s dividend payout ratio is currently 37.62%.

Analyst Ratings Changes

Several brokerages have recently commented on MTCH. Stifel Nicolaus decreased their target price on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. HSBC cut Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Hsbc Global Res cut Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Evercore ISI reduced their price objective on Match Group from $35.00 to $32.00 and set an “in-line” rating for the company in a research report on Monday. Fifteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.91.

Institutional Trading of Match Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in shares of Match Group by 94.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 28,884 shares during the period. Pacer Advisors Inc. increased its stake in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after purchasing an additional 939,078 shares during the period. Penn Davis Mcfarland Inc. increased its stake in shares of Match Group by 1.8% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company’s stock worth $15,665,000 after purchasing an additional 8,414 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock worth $87,267,000 after purchasing an additional 69,947 shares during the period. Finally, Truist Financial Corp bought a new position in shares of Match Group in the fourth quarter worth about $250,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.