Mubadala Investment Co PJSC Acquires New Holdings in Match Group, Inc. (NASDAQ:MTCH)

Mubadala Investment Co PJSC bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 107,407 shares of the technology company's stock, valued at approximately $3,513,000. Match Group makes up about 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 29th largest position.

Other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in shares of Match Group by 9.0% during the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company's stock worth $10,459,000 after purchasing an additional 22,887 shares in the last quarter. Czech National Bank increased its stake in shares of Match Group by 3.6% during the 4th quarter. Czech National Bank now owns 54,442 shares of the technology company's stock worth $1,781,000 after purchasing an additional 1,907 shares in the last quarter. Palliser Capital UK Ltd increased its stake in shares of Match Group by 76.9% during the 4th quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company's stock worth $7,641,000 after purchasing an additional 101,563 shares in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Match Group during the 4th quarter worth approximately $240,000. Finally, Merit Financial Group LLC acquired a new position in Match Group in the 4th quarter valued at about $227,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTCH has been the subject of several analyst reports. UBS Group cut their target price on shares of Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Citigroup dropped their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Barclays dropped their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Stifel Nicolaus decreased their target price on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Sixteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $35.91.

Match Group Price Performance

Shares of MTCH traded up $0.27 during trading hours on Friday, reaching $29.25. 3,871,923 shares of the company's stock traded hands, compared to its average volume of 4,906,254. The business's fifty day simple moving average is $29.77 and its two-hundred day simple moving average is $31.80. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.82 and a beta of 1.42.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.60%. Match Group's dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the transaction, the chief executive officer now directly owns 137,478 shares of the company's stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Gary Swidler sold 242,209 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares of the company's stock, valued at $55,533.40. This trade represents a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.64% of the stock is currently 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.