10,400 Shares in Match Group Inc. $MTCH Purchased by Arista Wealth Management LLC

Key Points

• Arista Wealth Management LLC acquired 10,400 shares of Match Group Inc. valued at approximately $321,000, reflecting growing institutional interest in the stock.
• Equities analysts have raised the target prices for Match Group, with Evercore ISI increasing its target from $32.00 to $38.00 and Susquehanna raising it from $40.00 to $45.00.
• Insider trading activity includes significant sales, with Director Ann Mcdaniel selling 5,423 shares and Chief Accounting Officer Philip D. Eigenmann selling 6,531 shares, resulting in ownership decreases of 19.83% and 21.94%, respectively.

Arista Wealth Management LLC acquired a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,400 shares of the technology company's stock, valued at approximately $321,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC raised its position in Match Group by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock worth $215,000 after purchasing an additional 334 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Match Group by 56.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock worth $31,000 after acquiring an additional 362 shares in the last quarter. Parallel Advisors LLC grew its stake in Match Group by 18.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock worth $77,000 after acquiring an additional 390 shares in the last quarter. Assetmark Inc. grew its stake in Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock worth $108,000 after acquiring an additional 429 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in Match Group by 28.0% in the 2nd quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company's stock worth $63,000 after acquiring an additional 446 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MTCH shares. Evercore ISI upped their target price on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Wells Fargo & Company upped their target price on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Susquehanna upped their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Match Group in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price 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. Five equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group currently has an average rating of "Hold" and a consensus price target of $35.44.

Insider Activity

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director directly owned 21,926 shares in the company, valued at $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the sale, the chief accounting officer owned 23,240 shares of the company's stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,454 shares of company stock worth $907,839. Corporate insiders own 0.64% of the company's stock.

Match Group Stock Performance

NASDAQ MTCH opened at $32.43 on Friday. The firm's 50 day moving average price is $36.24 and its 200-day moving average price is $32.76. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The company has a market cap of $7.80 billion, a PE ratio of 15.98, a P/E/G ratio of 0.64 and a beta of 1.38.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Match Group's dividend payout ratio (DPR) is currently 37.44%.

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.

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