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

Manning & Napier Advisors LLC boosted its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 99.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the technology company's stock after buying an additional 124,955 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.10% of Match Group worth $7,800,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MTCH. Metis Global Partners LLC boosted its position in shares of Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock worth $358,000 after purchasing an additional 318 shares during the period. Cornerstone Investment Partners LLC boosted its position in shares of 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 purchasing an additional 349 shares during the period. Assetmark Inc. boosted its position in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after purchasing an additional 378 shares during the period. Fulton Bank N.A. boosted its position in shares of Match Group by 3.9% in the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after purchasing an additional 388 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of Match Group by 1.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock worth $757,000 after purchasing an additional 415 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff bought 70,885 shares of Match Group stock in a transaction dated Friday, May 9th. The shares were acquired at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer now owns 137,478 shares in the company, valued at $3,856,257.90. The trade was a 106.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MTCH shares. Citigroup dropped their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Stifel Nicolaus dropped their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Barclays dropped their price target on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $35.91.

Match Group Stock Up 1.0%

MTCH stock opened at $30.59 on Monday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The company has a fifty day simple moving average of $29.90 and a two-hundred day simple moving average of $31.40. The firm has a market capitalization of $7.66 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.48%. Match Group's dividend payout ratio (DPR) is currently 37.62%.

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.

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCH - Free Report).

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.