Pacific Capital Partners Ltd Invests $3.92 Million in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Pacific Capital Partners Ltd acquired 125,758 shares of Match Group Inc., valued at approximately $3.9 million, making it the fund's 17th largest position.
• Several hedge funds, including NBC Securities Inc. and Kayne Anderson Rudnick Investment Management, have also increased their stakes in Match Group as institutional ownership reaches 94.05%.
• Match Group's recent analyst ratings show a consensus target price of $36.16 with a majority rating of "Hold," reflecting mixed recommendations from analysts.

Pacific Capital Partners Ltd purchased a new position in Match Group Inc. (NASDAQ:MTCH - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 125,758 shares of the technology company's stock, valued at approximately $3,924,000. Match Group makes up about 2.5% of Pacific Capital Partners Ltd's investment portfolio, making the stock its 17th biggest holding. Pacific Capital Partners Ltd owned about 0.05% of Match Group as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Match Group during the first quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group in the 4th quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after purchasing an additional 1,512 shares in the last quarter. Mather Group LLC. raised 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 worth $79,000 after purchasing an additional 1,434 shares during the last quarter. Finally, CX Institutional bought a new position in shares of Match Group during the first quarter valued at $103,000. 94.05% of the stock is owned by institutional investors.

Match Group Stock Down 2.0%

MTCH traded down $0.67 during midday trading on Friday, reaching $33.60. The company had a trading volume of 6,389,421 shares, compared to its average volume of 3,513,019. The business has a 50-day moving average of $31.77 and a two-hundred day moving average of $31.46. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $38.77. The company has a market cap of $8.41 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.76 and a beta of 1.36.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Match Group's dividend payout ratio (DPR) is presently 37.62%.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff purchased 70,885 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 137,478 shares in the company, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays reduced their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Wells Fargo & Company lifted their price target on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. lowered their price objective on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, UBS Group raised their target price on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.06.

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.