Johnson Investment Counsel Inc. Invests $249,000 in Match Group Inc. $MTCH

Key Points

• Johnson Investment Counsel Inc. invested approximately $249,000 in Match Group Inc. by acquiring 8,052 shares during the second quarter.
• Insider trades have been notable, with Director Stephen Bailey selling 12,500 shares for $459,000, representing a 60.80% decrease in his position.
• The company has announced a quarterly dividend of $0.19 per share, with an upcoming payment date of October 17th, reflecting a dividend yield of 2.3%.

Johnson Investment Counsel Inc. acquired a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,052 shares of the technology company's stock, valued at approximately $249,000.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock worth $31,000 after purchasing an additional 362 shares during the period. SVB Wealth LLC bought a new position in shares of Match Group in the first quarter worth about $49,000. Summit Securities Group LLC bought a new position in shares of Match Group in the first quarter worth about $54,000. Parallel Advisors LLC increased its stake in shares of Match Group by 18.5% in the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock worth $77,000 after purchasing an additional 390 shares during the period. Finally, 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. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the transaction, the director directly owned 8,058 shares of the company's stock, valued at $295,889.76. The trade was a 60.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief accounting officer directly owned 23,240 shares in the company, valued at $871,964.80. The trade was a 21.94% 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 valued at $907,839 in the last three months. 0.64% of the stock is owned by corporate insiders.

Match Group Trading Up 1.3%

MTCH stock opened at $32.87 on Thursday. The firm has a market cap of $7.91 billion, a P/E ratio of 16.19, a P/E/G ratio of 0.64 and a beta of 1.38. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The business's 50 day moving average is $36.40 and its 200-day moving average is $32.75.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's payout ratio is presently 37.44%.

Analyst Ratings Changes

MTCH has been the topic of several research reports. UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna boosted their price target on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Match Group in a research note on Wednesday, October 8th. Evercore ISI boosted their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.