Infusive Asset Management Inc. Buys Shares of 47,329 Match Group Inc. $MTCH

Key Points

• Infusive Asset Management Inc. has invested around $1.48 million in Match Group Inc. by purchasing 47,329 shares, indicating growing interest in the technology company.
• Match Group is set to pay a quarterly dividend of $0.19 on October 17th, with a current annualized dividend yield of 2.0%.
• Recent insider transactions revealed that directors Ann McDaniel and Stephen Bailey sold shares, decreasing their ownership significantly, which could indicate a shift in confidence or strategy within the company.

Infusive Asset Management Inc. bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,329 shares of the technology company's stock, valued at approximately $1,477,000.

Several other large investors also recently bought and sold shares of MTCH. NBC Securities Inc. purchased a new position in Match Group during the first quarter worth about $37,000. SVB Wealth LLC acquired a new position in shares of Match Group during the 1st quarter valued at about $49,000. Summit Securities Group LLC acquired a new position in shares of Match Group during the 1st quarter valued at about $54,000. Mather Group LLC. raised its holdings in shares of Match Group by 130.1% in the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock worth $79,000 after purchasing an additional 1,434 shares during the period. Finally, CX Institutional purchased a new position in shares of Match Group in the 1st quarter worth about $103,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Susquehanna raised their price objective on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. UBS Group raised their price objective on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Evercore ISI raised their target price on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Five research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, Match Group presently has an average rating of "Hold" and an average price target of $35.44.

Insider Transactions at Match Group

In other news, CAO Philip D. Eigenmann sold 6,531 shares of Match Group 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 transaction, the chief accounting officer owned 23,240 shares in the company, valued at approximately $871,964.80. This trade represents 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 the SEC website. Also, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the transaction, the director owned 21,926 shares of the company's stock, valued at approximately $823,979.08. The trade was a 19.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,454 shares of company stock worth $907,839. 0.64% of the stock is currently owned by corporate insiders.

Match Group Trading Up 2.1%

NASDAQ MTCH traded up $0.78 during mid-day trading on Friday, reaching $38.17. 2,515,857 shares of the company's stock traded hands, compared to its average volume of 3,267,969. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a fifty day simple moving average of $35.01 and a 200-day simple moving average of $31.94. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 18.80, a P/E/G 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. Stockholders of record on Friday, October 3rd will be given a $0.19 dividend. 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 presently 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.