Oppenheimer & Co. Inc. Takes Position in Match Group Inc. (NASDAQ:MTCH)

Oppenheimer & Co. Inc. bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,010 shares of the technology company's stock, valued at approximately $1,404,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Match Group in the first quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Match Group in the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC grew its position 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 purchasing an additional 1,512 shares during the last quarter. Assetmark Inc. grew its position in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Match Group in the first quarter valued at approximately $103,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTCH. Morgan Stanley decreased their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Bank of America cut their price target on Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. 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 research note on Wednesday, April 23rd. Finally, Evercore ISI reiterated a "cautious" rating and issued a $32.00 price target on shares of Match Group in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.96.

Insider Activity

In related news, CEO Spencer M. Rascoff acquired 70,885 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now directly owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.64% of the stock is owned by corporate insiders.

Match Group Stock Performance

Shares of MTCH opened at $30.85 on Friday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.69 and a beta of 1.35. The stock has a fifty day moving average of $30.10 and a 200-day moving average of $31.35.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group's payout ratio is 37.62%.

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.

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