Bayforest Capital Ltd Invests $367,000 in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Bayforest Capital Ltd has invested approximately $367,000 in Match Group Inc., acquiring 11,770 shares in the first quarter.
• Match Group's stock performance shows a 1-year low of $26.39 and a 1-year high of $38.84, alongside a market cap of $8.58 billion.
• CEO Spencer M. Rascoff significantly increased his stake in Match Group by purchasing 70,885 shares for about $1.99 million, boosting his ownership by over 106%.

Bayforest Capital Ltd bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,770 shares of the technology company's stock, valued at approximately $367,000.

Several other institutional investors have also recently added to or reduced their stakes in MTCH. Nomura Asset Management Co. Ltd. increased its holdings in Match Group by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company's stock valued at $2,445,000 after purchasing an additional 478 shares during the last quarter. Allstate Corp acquired a new stake in Match Group in the 4th quarter valued at approximately $233,000. CIBC Private Wealth Group LLC increased its holdings in Match Group by 266.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 9,627 shares of the technology company's stock valued at $307,000 after purchasing an additional 7,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in Match Group by 13.4% in the 4th quarter. Wellington Management Group LLP now owns 9,647 shares of the technology company's stock valued at $316,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Match Group by 18.0% in the 4th quarter. Franklin Resources Inc. now owns 326,655 shares of the technology company's stock valued at $10,685,000 after purchasing an additional 49,880 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Price Performance

Shares of MTCH opened at $34.27 on Friday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The stock has a market cap of $8.58 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The firm has a fifty day moving average price of $31.77 and a 200 day moving average price of $31.46.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. Match Group's payout ratio is 37.62%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MTCH shares. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Barclays decreased their price target on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus decreased their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Evercore ISI reissued a "cautious" rating and issued a $32.00 price target on shares of Match Group in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of "Hold" and an average price target of $36.06.

Insiders Place Their Bets

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of Match Group stock in a transaction that occurred on Friday, May 9th. The stock was purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the transaction, the chief executive officer directly owned 137,478 shares in the company, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.64% of the stock is currently owned by company insiders.

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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