Bayforest Capital Ltd Purchases New Holdings in Match Group Inc. $MTCH

Key Points

• Bayforest Capital Ltd has acquired a new stake in Match Group Inc, purchasing 11,770 shares valued at approximately $367,000.
• Insider activity includes significant shares sold by directors, with Director Stephen Bailey selling 12,500 shares and reporting a 60.80% decrease in their ownership.
• Match Group has announced a quarterly dividend of $0.19, set to be paid on October 17th, representing an annualized yield of 2.0%.

Bayforest Capital Ltd purchased a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,770 shares of the technology company's stock, valued at approximately $367,000.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. purchased a new stake in shares of Match Group in the 1st quarter valued at approximately $37,000. SVB Wealth LLC acquired a new position in Match Group in the 1st quarter valued at approximately $49,000. Summit Securities Group LLC acquired a new position in Match Group in the 1st quarter valued at approximately $54,000. Mather Group LLC. increased its stake in Match Group by 130.1% in the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after buying an additional 1,434 shares during the period. Finally, CX Institutional acquired a new position in Match Group in the 1st quarter valued at approximately $103,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mcdaniel sold 5,423 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total transaction of $203,796.34. Following the completion of the transaction, the director owned 21,926 shares in the company, valued at $823,979.08. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,454 shares of company stock worth $907,839. 0.64% of the stock is owned by insiders.

Match Group Trading Down 0.8%

NASDAQ:MTCH opened at $37.90 on Thursday. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The firm's fifty day simple moving average is $35.39 and its 200 day simple moving average is $32.07. The firm has a market capitalization of $9.12 billion, a PE ratio of 18.67, a PEG ratio of 0.76 and a beta of 1.36.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is presently 37.44%.

Analyst Ratings Changes

Several research firms have weighed in on MTCH. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Evercore ISI upped their price objective on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. UBS Group upped their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price target on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.44.

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.

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