Intech Investment Management LLC Purchases New Position in Match Group Inc. $MTCH

Intech Investment Management LLC acquired a new stake in Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,411 shares of the technology company’s stock, valued at approximately $754,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTCH. Public Employees Retirement System of Ohio boosted its position in shares of Match Group by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 10,269 shares during the period. Meritage Portfolio Management purchased a new stake in Match Group in the second quarter valued at approximately $693,000. PNC Financial Services Group Inc. boosted its holdings in shares of Match Group by 71.2% in the second quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock valued at $965,000 after acquiring an additional 12,987 shares during the period. Patton Fund Management Inc. acquired a new stake in shares of Match Group in the second quarter valued at approximately $226,000. Finally, AGF Management Ltd. grew its position in shares of Match Group by 20.0% during the second quarter. AGF Management Ltd. now owns 100,202 shares of the technology company’s stock worth $3,095,000 after acquiring an additional 16,680 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Down 0.5%

Shares of Match Group stock opened at $33.22 on Thursday. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.63 and a beta of 1.41. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The company’s 50-day simple moving average is $33.43 and its 200-day simple moving average is $33.46.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, January 6th. Match Group’s dividend payout ratio is 35.51%.

Insider Buying and Selling

In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the transaction, the chief accounting officer owned 23,240 shares in the company, valued at approximately $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Spencer M. Rascoff bought 14,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were bought at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the transaction, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This represents a 9.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MTCH shares. Susquehanna upped their price target on shares of Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Truist Financial lowered their price target on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Finally, Evercore ISI decreased their price objective on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.00.

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.