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

Minneapolis Portfolio Management Group LLC grew its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 37.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 716,131 shares of the technology company's stock after acquiring 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 largest position. Minneapolis Portfolio Management Group LLC owned 0.29% of Match Group worth $22,343,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Match Group in the 1st quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group during the 4th quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after buying an additional 1,512 shares in the last quarter. Mather Group LLC. grew its stake in shares of Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after buying an additional 1,434 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Match Group by 14.2% during 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 during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Price Performance

Shares of MTCH traded up $0.45 during trading hours on Wednesday, hitting $32.89. The stock had a trading volume of 1,596,282 shares, compared to its average volume of 4,819,429. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $38.84. The firm has a market capitalization of $8.24 billion, a PE ratio of 16.28, a PEG ratio of 0.70 and a beta of 1.34. The stock has a fifty day moving average price of $30.43 and a 200 day moving average price of $31.37.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.31%. Match Group's dividend payout ratio (DPR) is presently 37.62%.

Analyst Ratings Changes

MTCH has been the topic of a number of recent research reports. Morgan Stanley lowered their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Barclays reduced their price target on Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus dropped their price target on Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Finally, Citigroup reduced their price objective on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $35.96.

Insiders Place Their Bets

In related news, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the transaction, the chief executive officer owned 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.