Minneapolis Portfolio Management Group LLC Buys 195,566 Shares of Match Group Inc. (NASDAQ:MTCH)

Minneapolis Portfolio Management Group LLC increased its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 716,131 shares of the technology company's stock after buying an additional 195,566 shares during the quarter. Match Group accounts for about 3.1% of Minneapolis Portfolio Management Group LLC's holdings, making the stock its 19th biggest holding. Minneapolis Portfolio Management Group LLC owned approximately 0.29% of Match Group worth $22,343,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MTCH. Proficio Capital Partners LLC bought a new stake in Match Group in the fourth quarter worth approximately $704,000. SBI Securities Co. Ltd. bought a new stake in Match Group in the fourth quarter worth approximately $116,000. Charles Schwab Investment Management Inc. increased its holdings in Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock worth $87,267,000 after purchasing an additional 69,947 shares in the last quarter. Assetmark Inc. increased its holdings in Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after purchasing an additional 378 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Match Group in the fourth quarter worth approximately $4,951,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Price Performance

Shares of MTCH traded up $0.33 during mid-day trading on Tuesday, hitting $32.16. The stock had a trading volume of 900,362 shares, compared to its average volume of 4,819,259. The firm has a market cap of $8.05 billion, a P/E ratio of 15.92, a PEG ratio of 0.72 and a beta of 1.34. The business has a fifty day moving average price of $30.38 and a 200-day moving average price of $31.36. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.84.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.36%. Match Group's payout ratio is presently 37.62%.

Insider Activity

In other news, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction on Friday, May 9th. The shares were purchased at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the purchase, the chief executive officer directly owned 137,478 shares in the company, valued at $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTCH shares. Wells Fargo & Company raised their price objective on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Morgan Stanley reduced their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Bank of America cut their target price on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Match Group presently has a consensus rating of "Hold" and a consensus price target of $35.96.

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.