Match Group Inc. $MTCH Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio increased its stake in Match Group Inc. by 12.9%, owning 89,987 shares valued at approximately $2.78 million at the end of the second quarter.
• Insiders have sold a total of 24,454 shares of Match Group in the last three months, indicating a decrease in ownership for top executives.
• Match Group's stock recently hit a low of $26.39 and currently has a market cap of $8.33 billion, with various analysts rating it as a "Hold" with a target price around $35.44.

Public Employees Retirement System of Ohio increased its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,987 shares of the technology company's stock after acquiring an additional 10,269 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Match Group were worth $2,780,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Applied Finance Capital Management LLC increased its holdings in shares of Match Group by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock valued at $215,000 after acquiring an additional 334 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Match Group by 56.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock valued at $31,000 after buying an additional 362 shares during the period. Fulton Bank N.A. increased its stake in Match Group by 3.9% in the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock valued at $321,000 after buying an additional 388 shares during the period. Parallel Advisors LLC increased its stake in Match Group by 18.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock valued at $77,000 after buying an additional 390 shares during the period. Finally, Assetmark Inc. increased its stake in Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock valued at $108,000 after buying an additional 429 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ann Mcdaniel sold 5,423 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the sale, the director directly owned 21,926 shares in the company, valued at $823,979.08. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the sale, the chief accounting officer owned 23,240 shares in the company, valued at $871,964.80. This represents 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 worth $907,839 in the last three months. Corporate insiders own 0.64% of the company's stock.

Match Group Stock Down 2.0%

NASDAQ:MTCH opened at $34.63 on Thursday. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The stock has a market cap of $8.33 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.70 and a beta of 1.38. The firm's fifty day simple moving average is $36.66 and its 200-day simple moving average is $32.62.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. Match Group's payout ratio is currently 37.44%.

Analyst Ratings Changes

MTCH has been the topic of several recent research reports. 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 note on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Evercore ISI boosted their price objective on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. 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 note on Friday, June 27th. Finally, 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 note on Wednesday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.

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