IFM Investors Pty Ltd Buys 8,725 Shares of Match Group Inc. $MTCH

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 increased its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 19.7% during the first quarter, according to its most recent filing 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 quarter. IFM Investors Pty Ltd's holdings in Match Group were worth $1,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bayforest Capital Ltd acquired a new stake in shares of Match Group during the first quarter worth $367,000. Woodline Partners LP acquired a new stake in shares of Match Group during the first quarter worth $662,000. MBB Public Markets I LLC acquired a new stake in shares of Match Group during the first quarter worth $312,000. Aristeia Capital L.L.C. acquired a new stake in shares of Match Group during the first quarter worth $229,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Match Group during the first quarter worth $256,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company'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 transaction of $245,043.12. Following the sale, the chief accounting officer directly owned 23,240 shares of the company's stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,454 shares of company stock valued at $907,839. Company insiders own 0.64% of the company's stock.

Match Group Trading Down 0.1%

Shares of NASDAQ:MTCH traded down $0.03 on Tuesday, reaching $37.44. 3,157,417 shares of the company's stock were exchanged, compared to its average volume of 4,646,590. The company has a fifty day moving average of $35.71 and a 200-day moving average of $32.18. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 0.75 and a beta of 1.36.

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 issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's dividend payout ratio is 37.44%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTCH. Susquehanna boosted their target price on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. UBS Group increased their price target on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. raised 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, Evercore ISI lifted their price target on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock 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.