MBB Public Markets I LLC Makes New Investment in Match Group Inc. $MTCH

Key Points

• MBB Public Markets I LLC has invested approximately $312,000 in Match Group Inc., acquiring 10,010 shares in the process.
• Analysts have varied opinions on Match Group, with target prices ranging from $28.00 to $38.00, and the stock currently holds an average rating of "Hold."
• The company announced a quarterly dividend of $0.19 per share, with a yield of 2.0%, payable on October 17th.

MBB Public Markets I LLC acquired a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,010 shares of the technology company's stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTCH. Starboard Value LP raised its holdings in shares of Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after purchasing an additional 5,100,824 shares during the last quarter. Nuveen LLC bought a new stake in Match Group during the first quarter worth $142,281,000. Invesco Ltd. lifted its stake in Match Group by 64.2% in the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock valued at $298,451,000 after acquiring an additional 3,738,509 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Match Group in the first quarter valued at $77,783,000. Finally, Ameriprise Financial Inc. lifted its stake in Match Group by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock valued at $384,808,000 after acquiring an additional 1,822,362 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Price Performance

MTCH traded down $0.33 on Tuesday, hitting $37.14. 535,225 shares of the stock were exchanged, compared to its average volume of 4,631,279. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The business has a 50-day moving average of $35.71 and a two-hundred day moving average of $32.18. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 0.75 and a beta of 1.36.

Match Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI increased their price target 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 increased their price target 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. UBS Group increased their price target 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 increased their price target 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, JPMorgan Chase & Co. increased their price target 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. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.44.

Insiders Place Their Bets

In other Match Group news, 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 completion of the transaction, the director owned 8,058 shares of the company's stock, valued at approximately $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $245,043.12. Following the transaction, the chief accounting officer directly owned 23,240 shares of the company's stock, valued at approximately $871,964.80. The trade was a 21.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,454 shares of company stock valued at $907,839. 0.64% of the stock is currently owned by corporate insiders.

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.