Aviance Capital Partners LLC Raises Holdings in Match Group Inc. (NASDAQ:MTCH)

Aviance Capital Partners LLC grew its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 14.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 69,206 shares of the technology company's stock after buying an additional 8,694 shares during the quarter. Aviance Capital Partners LLC's holdings in Match Group were worth $2,159,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MTCH. Sanctuary Advisors LLC purchased a new position in Match Group in the fourth quarter valued at $219,000. Truist Financial Corp purchased a new position in shares of Match Group in the 4th quarter valued at about $250,000. Proficio Capital Partners LLC acquired a new stake in shares of Match Group during the 4th quarter worth about $704,000. QRG Capital Management Inc. acquired a new stake in shares of Match Group during the 4th quarter worth about $388,000. Finally, Metis Global Partners LLC increased its stake in Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock valued at $358,000 after purchasing an additional 318 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the business's stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the acquisition, the chief executive officer directly owned 137,478 shares of the company's stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Bank of America reduced their price target on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barclays dropped their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Evercore ISI restated a "cautious" rating and set a $32.00 price target on shares of Match Group in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $35.96.

Match Group Price Performance

Shares of MTCH stock traded up $0.08 during trading hours on Friday, reaching $32.52. 2,361,766 shares of the company's stock were exchanged, compared to its average volume of 4,835,471. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $38.84. The company has a market cap of $8.14 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.72 and a beta of 1.34. The company's 50 day moving average is $30.34 and its two-hundred day moving average is $31.38.

Match Group Dividend Announcement

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 issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, July 3rd. Match Group's dividend payout ratio (DPR) is currently 37.62%.

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.