GAMMA Investing LLC Increases Stock Position in Match Group, Inc. (NASDAQ:MTCH)

GAMMA Investing LLC boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 5,490.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,756 shares of the technology company's stock after buying an additional 283,591 shares during the quarter. GAMMA Investing LLC owned 0.12% of Match Group worth $9,255,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Metis Global Partners LLC boosted its stake in Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock worth $358,000 after buying an additional 318 shares during the period. Cornerstone Investment Partners LLC boosted its stake in Match Group by 2.2% during the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock worth $520,000 after buying an additional 349 shares during the period. Assetmark Inc. boosted its stake in Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after buying an additional 378 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in Match Group by 1.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock worth $757,000 after buying an additional 415 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Match Group by 0.6% in the fourth 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 period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Trading Up 1.1%

MTCH stock opened at $31.84 on Friday. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The company's 50 day moving average is $29.47 and its two-hundred day moving average is $31.53. The stock has a market cap of $7.97 billion, a P/E ratio of 15.76, a PEG ratio of 0.82 and a beta of 1.35.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.39%. Match Group's payout ratio is currently 37.62%.

Insiders Place Their Bets

In related news, CEO Spencer M. Rascoff acquired 70,885 shares of the business's stock in a transaction on Friday, May 9th. The shares were bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now owns 137,478 shares in the company, valued at $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lowered their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Evercore ISI reissued a "cautious" rating and issued a $32.00 price objective on shares of Match Group in a research note on Wednesday, May 21st. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Bank of America lowered their price objective on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $35.91.

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.

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group, Inc. (NASDAQ:MTCH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.