Kayne Anderson Rudnick Investment Management LLC Has $356,000 Holdings in Match Group Inc. $MTCH

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Match Group Inc. by 652.5%, acquiring an additional 9,898 shares in the first quarter, bringing their total holdings to 11,415 shares valued at approximately $356,000.
• Match Group's stock has seen various price target adjustments from analysts, with the consensus target now at $35.44 and ratings ranging from Buy to Hold.
• The company announced a quarterly dividend of $0.19 per share to be paid on October 17, 2023, with an annualized yield of 2.0%.

Kayne Anderson Rudnick Investment Management LLC boosted its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 652.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,415 shares of the technology company's stock after purchasing an additional 9,898 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Match Group were worth $356,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Comerica Bank lifted its position in Match Group by 4.1% in the 1st quarter. Comerica Bank now owns 56,945 shares of the technology company's stock valued at $1,777,000 after purchasing an additional 2,230 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Match Group in the 1st quarter worth approximately $49,000. AlphaQuest LLC grew its stake in shares of Match Group by 382.7% in the 1st quarter. AlphaQuest LLC now owns 8,186 shares of the technology company's stock worth $255,000 after purchasing an additional 6,490 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Match Group by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock worth $384,808,000 after acquiring an additional 1,822,362 shares in the last quarter. Finally, Norinchukin Bank The increased its position in shares of Match Group by 22.3% in the first quarter. Norinchukin Bank The now owns 23,576 shares of the technology company's stock worth $736,000 after acquiring an additional 4,291 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Up 0.8%

NASDAQ MTCH traded up $0.30 during trading on Friday, hitting $37.34. 4,124,497 shares of the company traded hands, compared to its average volume of 4,857,135. The company has a market capitalization of $8.98 billion, a P/E ratio of 18.39, a PEG ratio of 0.74 and a beta of 1.36. The business has a fifty day simple moving average of $34.35 and a 200 day simple moving average of $31.86. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders 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 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio (DPR) is 37.44%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTCH. Citigroup dropped their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Evercore ISI lifted their target price 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. UBS Group boosted their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their price objective on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Finally, Susquehanna boosted their price objective on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, Match Group has an average rating of "Hold" and a consensus target price of $35.44.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mcdaniel sold 5,423 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the sale, the director directly owned 21,926 shares of the company's stock, valued at approximately $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.64% of the company's stock.

Match Group 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.