Match Group Inc. $MTCH Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in Match Group Inc. by 2.5% in the first quarter, now owning 668,100 shares valued at approximately $20.8 million.
• Multiple analysts have raised their price targets for Match Group, with JPMorgan Chase and Susquehanna setting targets at $33.00 and $45.00, respectively, reflecting a generally positive outlook.
• Match Group recently announced a quarterly dividend of $0.19 per share, representing a 2.0% yield based on an annualized basis, with a payout ratio of 37.44%.

Swedbank AB raised its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 668,100 shares of the technology company's stock after purchasing an additional 16,092 shares during the quarter. Swedbank AB owned about 0.27% of Match Group worth $20,845,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Match Group in the 1st quarter valued at $37,000. SVB Wealth LLC acquired a new position in shares of Match Group in the 1st quarter valued at $49,000. Summit Securities Group LLC acquired a new position in shares of Match Group in the 1st quarter valued at $54,000. Mather Group LLC. boosted its holdings in shares of Match Group by 130.1% in the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after purchasing an additional 1,434 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Match Group in the 1st quarter valued at $103,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Evercore ISI raised their target price 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. UBS Group raised their target price 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. Susquehanna raised their target price 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. Finally, Wells Fargo & Company raised their target price 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. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Match Group has a consensus rating of "Hold" and a consensus target price of $35.44.

Match Group Trading Down 0.2%

MTCH stock traded down $0.06 during mid-day trading on Friday, hitting $38.51. 8,493,819 shares of the company were exchanged, compared to its average volume of 3,188,955. The company has a market capitalization of $9.27 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.36. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The firm has a fifty day simple moving average of $36.13 and a 200 day simple moving average of $32.37.

Match Group Dividend Announcement

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

Insiders Place Their Bets

In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the transaction, the chief accounting officer directly owned 23,240 shares of the company's stock, valued at $871,964.80. This trade represents a 21.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction on 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 directly owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This represents a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,454 shares of company stock valued at $907,839 in the last ninety days. Corporate insiders own 0.64% of the company's stock.

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.