Key Points
- CEO Spencer Rascoff bought 14,000 shares at $31.84 each on Nov. 20 for $445,760, increasing his stake 9.26% to 165,128 shares (SEC filing).
- Match Group declared a quarterly dividend of $0.19 per share (annualized $0.76) with an ex-dividend date of Jan. 6 and payment on Jan. 21, implying a 2.4% yield.
- Institutional investors own 94.05% of the stock, with large recent increases by State Street, Invesco and AQR, while analysts carry a consensus "Hold" rating and a $35 average target price.
Match Group Inc. (NASDAQ:MTCH - Get Free Report) CEO Spencer Rascoff acquired 14,000 shares of the business's stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Match Group Trading Up 1.5%
Match Group stock opened at $31.73 on Friday. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 0.63 and a beta of 1.41. The firm has a 50 day moving average of $33.81 and a 200 day moving average of $33.33.
Match Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, January 6th. Match Group's dividend payout ratio (DPR) is presently 35.51%.
Institutional Trading of Match Group
A number of large investors have recently made changes to their positions in MTCH. State Street Corp raised its position in Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company's stock valued at $680,826,000 after purchasing an additional 2,461,025 shares during the period. Ameriprise Financial Inc. boosted its holdings 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 valued at $385,590,000 after purchasing an additional 162,330 shares during the period. Invesco Ltd. grew its position in shares of Match Group by 64.2% during the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after buying an additional 3,738,509 shares in the last quarter. AQR Capital Management LLC grew its holdings in Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company's stock worth $216,791,000 after acquiring an additional 5,652,174 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in Match Group by 7.8% during the second 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 buying an additional 424,232 shares during the period. 94.05% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
MTCH has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Evercore ISI cut 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. Wall Street Zen raised Match Group from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. Finally, Morgan Stanley decreased their target price 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. Four equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $35.00.
Check Out Our Latest Report on MTCH
About Match Group
(
Get Free Report)
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.
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