Lansforsakringar Fondforvaltning AB publ Acquires Shares of 78,502 Match Group, Inc. (NASDAQ:MTCH)

Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 78,502 shares of the technology company's stock, valued at approximately $2,568,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Post Corp Registered Pension Plan purchased a new position in Match Group during the 4th quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 valued at $50,000 after acquiring an additional 1,512 shares during the period. Assetmark Inc. boosted its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares during the period. Principal Securities Inc. boosted its holdings in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock valued at $107,000 after acquiring an additional 2,652 shares during the period. Finally, State of Wyoming boosted its stake in shares of Match Group by 245.5% in the 4th quarter. State of Wyoming now owns 3,507 shares of the technology company's stock valued at $115,000 after buying an additional 2,492 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Price Performance

Shares of NASDAQ MTCH traded up $0.12 during midday trading on Tuesday, hitting $30.44. 2,666,614 shares of the company's stock were exchanged, compared to its average volume of 4,883,776. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The company has a market cap of $7.62 billion, a PE ratio of 15.07, a P/E/G ratio of 0.82 and a beta of 1.42. The firm's fifty day simple moving average is $29.45 and its 200-day simple moving average is $31.51.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, July 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff acquired 70,885 shares of Match Group stock in a transaction on Friday, May 9th. The stock was bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the purchase, the chief executive officer now owns 137,478 shares in the company, valued at $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Gary Swidler sold 242,209 shares of the business's stock in a transaction that occurred 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 sale, the president now owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This represents a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTCH shares. Stifel Nicolaus decreased their price objective on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Barclays decreased their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Finally, Morgan Stanley decreased their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Match Group has an average rating of "Hold" and an average target price of $35.91.

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.