1,744 Shares in Match Group Inc. $MTCH Acquired by Summit Securities Group LLC

Summit Securities Group LLC bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,744 shares of the technology company’s stock, valued at approximately $54,000.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new stake in Match Group during the 1st quarter worth approximately $37,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after buying an additional 1,512 shares during the period. Mather Group LLC. boosted its position in Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock worth $79,000 after buying an additional 1,434 shares during the period. CX Institutional acquired a new stake in Match Group during the 1st quarter worth approximately $103,000. Finally, Assetmark Inc. boosted its position in Match Group by 14.1% during the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company’s stock worth $108,000 after buying an additional 429 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Barclays dropped their price target on shares of Match Group from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Evercore ISI boosted their price target on shares of Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Stifel Nicolaus dropped their price target on shares of Match Group from $35.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Finally, Susquehanna boosted their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.44.

Match Group Stock Down 1.0%

Match Group stock opened at $38.28 on Monday. The company has a market capitalization of $9.21 billion, a PE ratio of 18.86, a PEG ratio of 0.76 and a beta of 1.36. The firm’s fifty day moving average is $33.05 and its 200 day moving average is $31.65. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group’s payout ratio is 37.44%.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director owned 8,058 shares in the company, valued at approximately $295,889.76. The trade was a 60.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.64% 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.