Punch & Associates Investment Management Inc. acquired a new stake in shares of Match Group Inc. (NASDAQ:MTCH – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 346,382 shares of the technology company’s stock, valued at approximately $13,180,000.
Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Match Group in the 2nd quarter worth approximately $1,087,055,000. AQR Capital Management LLC boosted its holdings in Match Group by 1,163.7% during the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Match Group in the second quarter worth approximately $154,811,000. Norges Bank acquired a new position in Match Group in the fourth quarter worth approximately $112,641,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Match Group in the second quarter valued at $100,796,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Match Group Stock Performance
Shares of NASDAQ:MTCH opened at $42.07 on Thursday. The firm has a 50 day simple moving average of $38.38 and a 200 day simple moving average of $35.16. Match Group Inc. has a 52 week low of $28.81 and a 52 week high of $42.49. The company has a market cap of $9.66 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30.
Match Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Stockholders of record on Monday, October 5th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, October 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Match Group’s payout ratio is currently 28.27%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. initiated coverage on Match Group in a research report on Monday. They set a “neutral” rating and a $43.00 price objective for the company. Wells Fargo & Company lifted their target price on Match Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada upped their target price on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Match Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.46.
View Our Latest Stock Analysis on MTCH
Insiders Place Their Bets
In other Match Group news, Director Glenn Schiffman purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average cost of $36.63 per share, with a total value of $109,890.00. Following the completion of the transaction, the director owned 56,370 shares of the company’s stock, valued at approximately $2,064,833.10. This represents a 5.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.
Featured Stories
- Five stocks we like better than Match Group
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCH – Free Report).
Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.
