Penn Davis Mcfarland Inc. Grows Stake in Match Group Inc. (NASDAQ:MTCH)

Penn Davis Mcfarland Inc. raised its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,378 shares of the technology company's stock after purchasing an additional 10,465 shares during the quarter. Match Group comprises about 1.8% of Penn Davis Mcfarland Inc.'s investment portfolio, making the stock its 20th biggest position. Penn Davis Mcfarland Inc. owned 0.20% of Match Group worth $15,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock worth $87,267,000 after acquiring an additional 69,947 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Match Group during the fourth quarter worth about $250,000. Proficio Capital Partners LLC purchased a new stake in shares of Match Group during the fourth quarter worth about $704,000. QRG Capital Management Inc. increased its position in shares of Match Group by 34.0% during the first quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company's stock worth $496,000 after acquiring an additional 4,035 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Match Group during the fourth quarter worth about $219,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company dropped their target price on Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Bank of America decreased 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. 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. Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, UBS Group decreased their price target on Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $35.91.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the company's stock in a transaction on Friday, May 9th. The shares were bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.64% of the company's stock.

Match Group Trading Up 2.0%

Shares of NASDAQ MTCH opened at $31.57 on Wednesday. The stock has a 50 day simple moving average of $29.99 and a 200-day simple moving average of $31.39. The company has a market cap of $7.91 billion, a PE ratio of 15.63, a P/E/G ratio of 0.71 and a beta of 1.35. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $38.84.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.41%. 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.

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