New Vernon Capital Holdings II LLC bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 326,040 shares of the technology company's stock, valued at approximately $10,450,000. New Vernon Capital Holdings II LLC owned 0.13% of Match Group at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Match Group in the first quarter valued at about $37,000. SVB Wealth LLC acquired a new position in Match Group in the first quarter valued at about $49,000. Summit Securities Group LLC acquired a new position in Match Group in the first quarter valued at about $54,000. Mather Group LLC. grew its stake in 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 acquiring an additional 1,434 shares during the period. Finally, CX Institutional acquired a new position in Match Group in the first quarter valued at about $103,000. 94.05% of the stock is owned by institutional investors and hedge funds.
Match Group Stock Down 1.7%
Shares of NASDAQ:MTCH traded down $0.64 during midday trading on Wednesday, hitting $37.57. The stock had a trading volume of 1,175,133 shares, compared to its average volume of 4,655,006. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The business's 50-day simple moving average is $35.28 and its 200-day simple moving average is $32.03. The company has a market cap of $9.04 billion, a P/E ratio of 18.48, a PEG ratio of 0.77 and a beta of 1.36.
Match Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. Match Group's dividend payout ratio (DPR) is currently 37.44%.
Analyst Ratings Changes
A number of research analysts have issued reports on MTCH shares. Susquehanna boosted their target price on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Evercore ISI boosted their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. 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. UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, 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. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.44.
Check Out Our Latest Research Report on MTCH
Insider Activity at Match Group
In related news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a 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 company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the sale, the chief accounting officer owned 23,240 shares in the company, valued at $871,964.80. This represents a 21.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,454 shares of company stock valued at $907,839. 0.64% of the stock is owned by corporate insiders.
Match Group Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Match Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Match Group wasn't on the list.
While Match Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
