Baird Financial Group Inc. Grows Holdings in Match Group Inc. $MTCH

Key Points

• Baird Financial Group Inc. increased its holdings in Match Group by 3.0% during the first quarter, now owning 526,092 shares valued at approximately $16.4 million.
• Match Group recently announced a quarterly dividend of $0.19 per share, representing an annualized dividend yield of 2.0%.
• Several analysts have raised their price targets for Match Group, with Susquehanna increasing its target from $40 to $45 and maintaining a "positive" rating on the stock.

Baird Financial Group Inc. increased its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 3.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 526,092 shares of the technology company's stock after buying an additional 15,117 shares during the period. Baird Financial Group Inc. owned 0.21% of Match Group worth $16,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MTCH. Northern Trust Corp raised its stake in Match Group by 12.1% during the fourth quarter. Northern Trust Corp now owns 2,533,468 shares of the technology company's stock worth $82,870,000 after buying an additional 273,349 shares during the last quarter. AQR Capital Management LLC raised its stake in Match Group by 64.0% during the fourth quarter. AQR Capital Management LLC now owns 535,113 shares of the technology company's stock worth $17,504,000 after buying an additional 208,892 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Match Group by 225.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 24,102 shares of the technology company's stock worth $788,000 after buying an additional 16,698 shares during the last quarter. Comerica Bank raised its stake in Match Group by 61.0% during the fourth quarter. Comerica Bank now owns 54,715 shares of the technology company's stock worth $1,790,000 after buying an additional 20,740 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in Match Group by 18.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,650 shares of the technology company's stock worth $446,000 after buying an additional 2,146 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

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 transaction of $203,796.34. Following the transaction, the director directly owned 21,926 shares in the company, valued at approximately $823,979.08. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director owned 8,058 shares in the company, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,454 shares of company stock worth $907,839. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MTCH. 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 note on Wednesday, August 6th. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. UBS Group raised their price target on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Barclays reduced their price target on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $35.44.

Match Group Price Performance

Shares of NASDAQ MTCH traded up $0.78 during mid-day trading on Friday, reaching $38.17. 2,515,857 shares of the company's stock traded hands, compared to its average volume of 3,320,514. The stock has a market cap of $9.18 billion, a P/E ratio of 18.80, a PEG ratio of 0.74 and a beta of 1.36. The business has a 50-day simple moving average of $35.01 and a 200 day simple moving average of $31.98. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio (DPR) is currently 37.44%.

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.