Jacobs Levy Equity Management Inc. Takes $77.78 Million Position in Match Group Inc. $MTCH

Key Points

• Jacobs Levy Equity Management Inc. has made a significant investment in Match Group Inc., acquiring approximately $77.78 million worth of shares during Q1 2023.
• Several hedge funds, including Starboard Value LP and Nuveen LLC, have also significantly increased their holdings in Match Group, with institutional investors owning over 94% of the company's stock.
• Match Group recently announced a quarterly dividend of $0.19 per share, with a payout ratio of 37.44%, indicating the company's commitment to returning value to shareholders.

Jacobs Levy Equity Management Inc. purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,493,042 shares of the technology company's stock, valued at approximately $77,783,000. Jacobs Levy Equity Management Inc. owned approximately 1.00% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Match Group during the first quarter worth $37,000. SVB Wealth LLC acquired a new position in shares of Match Group during the first quarter worth $49,000. Summit Securities Group LLC acquired a new position in shares of Match Group during the first quarter worth $54,000. Mather Group LLC. increased its holdings 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 worth $79,000 after buying an additional 1,434 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of Match Group during the first quarter worth $103,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Down 1.4%

Shares of MTCH traded down $0.56 on Tuesday, reaching $38.21. The company's stock had a trading volume of 3,591,973 shares, compared to its average volume of 4,675,225. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The stock has a market capitalization of $9.19 billion, a PE ratio of 18.82, a PEG ratio of 0.76 and a beta of 1.36. The firm has a fifty day moving average of $35.16 and a 200-day moving average of $31.99.

Match Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. UBS Group boosted their price objective on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $35.44.

Insider Buying and Selling at Match Group

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction dated 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 in the company, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the sale, the chief accounting officer 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 worth $907,839. Insiders own 0.64% of the company's stock.

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.