Oppenheimer & Co. Inc. Acquires New Holdings in Match Group Inc. (NASDAQ:MTCH)

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

Several other hedge funds also recently modified their holdings of MTCH. Sanctuary Advisors LLC bought a new position in shares of Match Group in the fourth quarter valued at $219,000. Truist Financial Corp purchased a new position in Match Group during the 4th quarter valued at about $250,000. Bank of New York Mellon Corp grew its position in Match Group by 37.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,486,837 shares of the technology company's stock valued at $81,344,000 after purchasing an additional 683,132 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Match Group in the fourth quarter worth $704,000. Finally, QRG Capital Management Inc. acquired a new position in Match Group in the 4th quarter worth about $388,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTCH has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday. 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 report on Wednesday, April 23rd. Evercore ISI reiterated a "cautious" rating and issued a $32.00 target price on shares of Match Group in a research note on Wednesday, May 21st. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, UBS Group decreased their price objective on Match Group from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $35.96.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff bought 70,885 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the transaction, the chief executive officer owned 137,478 shares of the company's stock, valued at $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is currently owned by company insiders.

Match Group Trading Up 5.2%

Match Group stock traded up $1.62 during mid-day trading on Tuesday, hitting $32.51. The stock had a trading volume of 5,428,782 shares, compared to its average volume of 4,829,568. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $38.84. The stock has a 50-day simple moving average of $30.19 and a two-hundred day simple moving average of $31.36. The stock has a market capitalization of $8.14 billion, a PE ratio of 16.09, a P/E/G ratio of 0.70 and a beta of 1.34.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, July 3rd. Match Group's dividend payout ratio is presently 37.62%.

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.