Abacus FCF Advisors LLC boosted its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 130.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 134,934 shares of the technology company's stock after acquiring an additional 76,465 shares during the quarter. Abacus FCF Advisors LLC owned about 0.05% of Match Group worth $4,210,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Match Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock valued at $87,267,000 after buying an additional 69,947 shares during the period. Truist Financial Corp acquired a new position in shares of Match Group in the 4th quarter valued at about $250,000. AustralianSuper Pty Ltd lifted its holdings in shares of Match Group by 149.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 733,536 shares of the technology company's stock valued at $23,994,000 after buying an additional 439,432 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Match Group in the 4th quarter valued at about $704,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Match Group in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 94.05% of the company's stock.
Insiders Place Their Bets
In other news, CEO Spencer M. Rascoff acquired 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The stock was acquired at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer now owns 137,478 shares of the company's stock, valued at $3,856,257.90. This represents a 106.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.64% of the stock is owned by insiders.
Match Group Price Performance
Shares of NASDAQ:MTCH traded down $0.46 during midday trading on Friday, hitting $30.20. The company had a trading volume of 3,244,470 shares, compared to its average volume of 4,882,930. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. The business's 50-day simple moving average is $29.63 and its 200-day simple moving average is $31.52.
Match Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.52%. Match Group's dividend payout ratio (DPR) is 37.62%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on MTCH. Bank of America decreased their target price on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Evercore ISI reiterated a "cautious" rating and issued a $32.00 target price on shares of Match Group in a research note on Wednesday, May 21st. Barclays reduced their price target on Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Stifel Nicolaus reduced their price target on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. One 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.91.
View Our Latest Research Report on MTCH
Match Group Profile
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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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