Patton Fund Management Inc. Buys New Shares in Match Group Inc. $MTCH

Key Points

• Patton Fund Management Inc. has acquired a new stake in Match Group Inc., purchasing 7,324 shares valued at approximately $226,000 during the second quarter.
• Match Group recently announced a quarterly dividend of $0.19 per share, with an ex-dividend date set for October 3rd, representing an annualized yield of 2.1%.
• Several research firms have raised their price targets for Match Group, with Susquehanna setting a new target at $45.00 and the consensus rating currently standing at "Hold."

Patton Fund Management Inc. bought a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,324 shares of the technology company's stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock valued at $31,000 after purchasing an additional 362 shares during the period. NBC Securities Inc. purchased a new position in Match Group in the first quarter valued at $37,000. SVB Wealth LLC purchased a new position in Match Group in the first quarter valued at $49,000. Summit Securities Group LLC purchased a new position in Match Group in the first quarter valued at $54,000. Finally, Parallel Advisors LLC boosted its holdings in Match Group by 18.5% in the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock valued at $77,000 after purchasing an additional 390 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Performance

MTCH opened at $36.50 on Tuesday. The business's 50-day simple moving average is $36.61 and its 200-day simple moving average is $32.59. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The stock has a market capitalization of $8.78 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. Match Group's payout ratio is 37.44%.

Insider Transactions at Match Group

In related news, Director Ann Mcdaniel sold 5,423 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the transaction, the director owned 21,926 shares of the company's stock, valued at $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,454 shares of company stock worth $907,839. Corporate insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTCH. JPMorgan Chase & Co. lifted their target price on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. UBS Group raised their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna raised their price target on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Finally, Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus price target of $35.44.

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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