285,867 Shares in Match Group Inc. $MTCH Bought by Ruffer LLP

Key Points

• Ruffer LLP acquired 285,867 shares of Match Group Inc. valued at approximately $8.83 million, representing a 0.11% ownership of the company.
• Match Group announced a quarterly dividend of $0.19 per share payable on October 17th, 2023, with an annualized yield of 2.1%.
• Multiple institutional investors have increased their stakes in Match Group, indicating strong institutional confidence, with 94.05% of the company’s shares owned by such investors.

Ruffer LLP acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 285,867 shares of the technology company's stock, valued at approximately $8,830,000. Ruffer LLP owned about 0.11% of Match Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in Match Group by 56.0% during 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 during the last quarter. NBC Securities Inc. bought a new stake in shares of Match Group in the 1st quarter valued at about $37,000. SVB Wealth LLC bought a new stake in shares of Match Group in the 1st quarter valued at about $49,000. Summit Securities Group LLC bought a new stake in shares of Match Group in the 1st quarter valued at about $54,000. Finally, Parallel Advisors LLC grew its position in shares of Match Group by 18.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock valued at $77,000 after buying an additional 390 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Match Group Stock Performance

Match Group stock opened at $36.10 on Thursday. The stock's 50 day simple moving average is $36.39 and its two-hundred day simple moving average is $32.46. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.73 and a beta of 1.36. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's payout ratio is currently 37.44%.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the sale, the director directly owned 8,058 shares of the company's stock, valued at $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 is available through the SEC website. Also, Director Ann Mcdaniel sold 5,423 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was 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 approximately $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,454 shares of company stock valued at $907,839 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. UBS Group upped their target price on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Susquehanna increased 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. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.44.

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.

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