ING Groep NV Makes New $4.14 Million Investment in Match Group Inc. (NASDAQ:MTCH)

Key Points

• ING Groep NV has invested approximately $4.14 million in Match Group Inc., acquiring 132,762 shares during the first quarter.
• Match Group recently reported $0.49 earnings per share (EPS), missing the consensus estimate of $0.79, and announced a quarterly dividend of $0.19 per share to be paid on October 17th.
• Analysts have mixed ratings for Match Group, with one sell rating, fifteen hold ratings, and five buy ratings, currently holding a consensus rating of "Hold."

ING Groep NV purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 132,762 shares of the technology company's stock, valued at approximately $4,142,000. ING Groep NV owned approximately 0.05% of Match Group as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MTCH. NBC Securities Inc. bought a new position in shares of Match Group in the first quarter worth about $37,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group in the fourth quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after purchasing an additional 1,512 shares during the period. Mather Group LLC. increased its stake in shares of Match Group by 130.1% in the first 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 bought a new position in shares of Match Group in the first quarter worth about $103,000. Institutional investors own 94.05% of the company's stock.

Insider Transactions at Match Group

In related news, 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 transaction of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares of the company's stock, valued at $295,889.76. This trade represents a 60.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday. UBS Group increased their target price on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Evercore ISI increased their target price on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday. Citigroup reduced their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Morgan Stanley reduced their target price 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. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Match Group has a consensus rating of "Hold" and an average price target of $35.44.

Match Group Trading Down 0.7%

NASDAQ MTCH traded down $0.26 on Friday, reaching $36.09. The company's stock had a trading volume of 3,567,944 shares, compared to its average volume of 5,060,211. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.77. The firm has a market cap of $9.04 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The business has a 50-day moving average price of $32.40 and a 200 day moving average price of $31.58.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's dividend payout ratio (DPR) is currently 37.44%.

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.