Russell Investments Group Ltd. Has $25.31 Million Stake in Match Group Inc. $MTCH

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Match Group Inc. by 401.2% in Q1, acquiring an additional 651,719 shares.
• Match Group announced a quarterly dividend of $0.19, which is set to be paid on October 17th, representing a 2.0% yield.
• Wall Street analysts currently have an average rating of "Hold" for Match Group, with a consensus price target of $35.44.

Russell Investments Group Ltd. increased its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 401.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 814,147 shares of the technology company's stock after acquiring an additional 651,719 shares during the period. Russell Investments Group Ltd. owned approximately 0.33% of Match Group worth $25,308,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Match Group during the 1st quarter worth approximately $37,000. Canada Post Corp Registered Pension Plan purchased a new stake in Match Group in the 4th quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after acquiring an additional 1,512 shares during the last quarter. Mather Group LLC. raised its holdings in 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 acquiring an additional 1,434 shares during the last quarter. Finally, CX Institutional acquired a new position in Match Group in the 1st quarter valued at $103,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares of the company's stock, valued at $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on MTCH. JPMorgan Chase & Co. boosted their price target on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Stifel Nicolaus cut their price target on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Citigroup cut their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Evercore ISI increased their price target on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, Match Group presently has an average rating of "Hold" and a consensus price target of $35.44.

Match Group Price Performance

Shares of Match Group stock traded down $0.8050 during trading on Wednesday, hitting $37.0450. 1,308,612 shares of the company's stock traded hands, compared to its average volume of 4,770,266. The company has a market cap of $8.91 billion, a PE ratio of 18.23, a PEG ratio of 0.75 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's fifty day moving average price is $33.30 and its 200 day moving average price is $31.71.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's payout ratio is 37.44%.

About Match Group

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.