DekaBank Deutsche Girozentrale Grows Stake in Match Group Inc. $MTCH

DekaBank Deutsche Girozentrale increased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 11.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 156,451 shares of the technology company’s stock after buying an additional 16,361 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Match Group worth $4,753,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. grew its stake in Match Group by 5.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company’s stock worth $614,000 after buying an additional 939 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Match Group by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company’s stock worth $1,015,000 after buying an additional 2,429 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Match Group by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock worth $2,780,000 after buying an additional 10,269 shares during the last quarter. Patton Fund Management Inc. purchased a new position in Match Group during the 2nd quarter worth approximately $226,000. Finally, Meritage Portfolio Management purchased a new position in Match Group during the 2nd quarter worth approximately $693,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 0.4%

Match Group stock opened at $32.62 on Friday. The stock has a 50 day moving average of $35.78 and a two-hundred day moving average of $32.90. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.65 and a beta of 1.38. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, October 3rd. Match Group’s dividend payout ratio (DPR) is currently 37.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. UBS Group raised their price target on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Morgan Stanley decreased their price objective on Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Five equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.56.

Insider Activity

In other news, Director Ann Mcdaniel sold 5,423 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director directly owned 21,926 shares of the company’s stock, valued at $823,979.08. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares of the company’s stock, valued at $295,889.76. This represents a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,454 shares of company stock valued at $907,839 in the last three months. 0.64% of the stock is currently owned by company insiders.

Match Group 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.