Lecap Asset Management Ltd. acquired a new position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,233 shares of the technology company's stock, valued at approximately $1,037,000.
Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new stake in Match Group during the 1st quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group in the 4th quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Match Group by 30,240.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after buying an additional 1,512 shares during the period. Assetmark Inc. raised its stake in Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after buying an additional 378 shares during the last quarter. Finally, CX Institutional acquired a new position in Match Group in the first quarter valued at $103,000. 94.05% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the purchase, the chief executive officer now directly owns 137,478 shares in the company, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.64% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on MTCH shares. UBS Group decreased their price target on Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus cut their target price on Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Wells Fargo & Company increased their price target on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $35.96.
Read Our Latest Report on MTCH
Match Group Trading Up 1.4%
Shares of MTCH traded up $0.43 on Friday, reaching $30.85. 5,427,852 shares of the company's stock traded hands, compared to its average volume of 4,858,837. The stock's 50 day simple moving average is $30.06 and its two-hundred day simple moving average is $31.37. The stock has a market cap of $7.73 billion, a PE ratio of 15.27, a PEG ratio of 0.69 and a beta of 1.35. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $38.84.
Match Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.46%. Match Group's dividend payout ratio (DPR) is presently 37.62%.
Match Group Company Profile
(
Free Report)
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.
See Also
Before you consider Match Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Match Group wasn't on the list.
While Match Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
