Marex Group plc Invests $771,000 in Match Group Inc. $MTCH

Marex Group plc bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, Holdings Channel reports. The firm bought 24,966 shares of the technology company’s stock, valued at approximately $771,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the period. Edmond DE Rothschild Holding S.A. grew its stake in shares of Match Group by 7.8% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company’s stock valued at $180,798,000 after acquiring an additional 424,232 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Match Group by 10.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company’s stock worth $173,880,000 after acquiring an additional 506,763 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Match Group by 7.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,287,202 shares of the technology company’s stock worth $163,322,000 after acquiring an additional 349,963 shares during the period. Finally, Norges Bank purchased a new position in Match Group during the second quarter valued at approximately $134,429,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Up 0.0%

Shares of MTCH stock opened at $33.19 on Monday. The company’s fifty day simple moving average is $32.83 and its two-hundred day simple moving average is $33.85. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The stock has a market cap of $7.84 billion, a P/E ratio of 15.51, a PEG ratio of 0.73 and a beta of 1.34.

Match Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $37.00 price objective on shares of Match Group in a research note on Wednesday. Raymond James Financial reaffirmed a “market perform” rating on shares of Match Group in a report on Wednesday. Truist Financial decreased 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. Morgan Stanley lowered their price objective on Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, October 20th. Finally, Wells Fargo & Company cut their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Match Group presently has an average rating of “Hold” and a consensus price target of $35.15.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of Match Group stock in a transaction on Thursday, November 20th. The shares were acquired at an average price of $31.84 per share, with a total value of $445,760.00. Following the purchase, the chief executive officer directly owned 165,128 shares in the company, valued at $5,257,675.52. The trade was a 9.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by corporate insiders.

About Match Group

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.