31,130 Shares in Match Group Inc. $MTCH Acquired by Algert Global LLC

Key Points

• Algert Global LLC acquired 31,130 shares of Match Group Inc., valued at approximately $971,000, reflecting significant interest in the company's stock during the first quarter.
• Match Group announced a quarterly dividend of $0.19 per share, with a yield of 2.0% and a payout ratio of 37.44%, to be paid on October 17th.
• Analysts have revised their price targets for Match Group, with Susquehanna raising the target from $40.00 to $45.00 and maintaining a "positive" rating on the stock.

Algert Global LLC acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 31,130 shares of the technology company's stock, valued at approximately $971,000.

A number of other hedge funds have also modified their holdings of the company. Applied Finance Capital Management LLC grew its holdings in shares of Match Group by 5.1% during the first quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock worth $215,000 after buying an additional 334 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Match Group by 3.9% during the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after buying an additional 388 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Match Group by 14.1% during the first quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock worth $108,000 after buying an additional 429 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Match Group by 2.7% during the first quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company's stock worth $546,000 after buying an additional 455 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Match Group by 2.9% during the fourth quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company's stock worth $677,000 after buying an additional 576 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup decreased their price objective on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. JPMorgan Chase & Co. raised their price target on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Finally, Barclays decreased their price target 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. Five analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $35.44.

Match Group Stock Up 0.2%

Shares of NASDAQ MTCH traded up $0.09 during midday trading on Wednesday, hitting $37.39. 1,075,542 shares of the company's stock were exchanged, compared to its average volume of 4,731,563. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The company's 50 day moving average price is $33.94 and its 200 day moving average price is $31.79. The firm has a market capitalization of $9.00 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's payout ratio is currently 37.44%.

Insider Activity at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. The trade was a 60.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.64% of the company's stock.

Match Group 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.