Match Group Inc. $MTCH Shares Acquired by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Match Group Inc. by 19.7%, holding a total of 53,058 shares worth approximately $1.65 million at the end of the recent reporting period.
• Match Group's shares have received mixed ratings from analysts, with 5 ratings as "Buy" and 15 as "Hold", and a current consensus price target of $35.44.
• The company announced a quarterly dividend of $0.19 per share, to be paid on October 17th, representing an annualized yield of 2.0%.

IFM Investors Pty Ltd lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,058 shares of the technology company's stock after acquiring an additional 8,725 shares during the period. IFM Investors Pty Ltd's holdings in Match Group were worth $1,655,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CAO Philip D. Eigenmann sold 6,531 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the sale, the chief accounting officer directly owned 23,240 shares in the company, valued at approximately $871,964.80. The trade was a 21.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mcdaniel sold 5,423 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director owned 21,926 shares of the company's stock, valued at $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,454 shares of company stock worth $907,839 in the last three months. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

MTCH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Susquehanna raised their price target on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. UBS Group raised their price target on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, 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. Five investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.44.

Match Group Stock Performance

Shares of NASDAQ:MTCH traded up $0.44 during mid-day trading on Thursday, hitting $38.03. 972,286 shares of the company traded hands, compared to its average volume of 4,614,475. The firm has a market cap of $9.15 billion, a P/E ratio of 18.73, a PEG ratio of 0.74 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 firm's 50 day simple moving average is $35.91 and its 200 day simple moving average is $32.26.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.0%. Match Group's payout ratio is currently 37.44%.

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.