11,770 Shares in Match Group Inc. $MTCH Purchased by Bayforest Capital Ltd

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

Several other institutional investors have also added to or reduced their stakes in the business. Starboard Value LP lifted its holdings in shares of Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after buying an additional 5,100,824 shares in the last quarter. Nuveen LLC bought a new position in shares of Match Group in the first quarter worth approximately $142,281,000. Invesco Ltd. increased its position in shares of Match Group by 64.2% in the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after purchasing an additional 3,738,509 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Match Group in the first quarter worth approximately $77,783,000. Finally, Ameriprise Financial Inc. increased its position in shares of Match Group by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock worth $384,808,000 after purchasing an additional 1,822,362 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of Match Group stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer owned 23,240 shares in the company, valued at $871,964.80. The trade was a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director owned 8,058 shares in the company, valued at $295,889.76. This trade represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,454 shares of company stock worth $907,839. Company insiders own 0.64% of the company's stock.

Match Group Trading Down 0.5%

Shares of Match Group stock traded down $0.18 during trading on Tuesday, hitting $37.29. 669,981 shares of the stock traded hands, compared to its average volume of 4,631,913. The firm has a market cap of $8.97 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The stock's fifty day simple moving average is $35.71 and its 200 day simple moving average is $32.18.

Match Group Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. Match Group's dividend payout ratio (DPR) is currently 37.44%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MTCH shares. Susquehanna increased their price target on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their price target on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. raised their price objective on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Evercore ISI lifted their price objective on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Finally, UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Five research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $35.44.

Match Group Company 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.