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Manning & Napier Advisors LLC Acquires 124,955 Shares of Match Group Inc. (NASDAQ:MTCH)

Match Group logo with Computer and Technology background

Manning & Napier Advisors LLC boosted its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 99.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the technology company's stock after acquiring an additional 124,955 shares during the period. Manning & Napier Advisors LLC owned 0.10% of Match Group worth $7,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MTCH. Metis Global Partners LLC boosted its stake in shares of Match Group by 3.0% during the 4th quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock valued at $358,000 after purchasing an additional 318 shares in the last quarter. Cornerstone Investment Partners LLC lifted its holdings in Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock worth $520,000 after buying an additional 349 shares during the period. Assetmark Inc. boosted its position in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Match Group by 3.9% during the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after acquiring an additional 388 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its holdings in shares of Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock worth $757,000 after acquiring an additional 415 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff bought 70,885 shares of the company's stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the transaction, the chief executive officer now owns 137,478 shares of the company's stock, 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 SEC, which is accessible through this hyperlink. 0.64% of the stock is owned by company insiders.

Match Group Stock Down 1.4%

Shares of NASDAQ MTCH traded down $0.44 during trading on Thursday, reaching $30.42. 4,933,160 shares of the company traded hands, compared to its average volume of 4,865,945. The firm has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $31.37. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $38.84. The stock has a market capitalization of $7.62 billion, a PE ratio of 15.06, a P/E/G ratio of 0.70 and a beta of 1.35.

Match Group Announces Dividend

The company 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 $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group's payout ratio is currently 37.62%.

Analyst Upgrades and Downgrades

MTCH has been the topic of several research reports. Stifel Nicolaus dropped their price target 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. Barclays dropped their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company decreased their price target on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Bank of America dropped their price objective on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Citigroup cut their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $35.91.

Read Our Latest Stock Report on MTCH

Match Group 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

Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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