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Penn Davis Mcfarland Inc. Purchases 10,465 Shares of Match Group Inc. (NASDAQ:MTCH)

Match Group logo with Computer and Technology background

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

Several other hedge funds and other institutional investors also recently made changes to their positions in MTCH. Oppenheimer & Co. Inc. bought a new stake in Match Group during the 1st quarter worth approximately $1,404,000. Manning & Napier Advisors LLC grew its holdings in Match Group by 99.9% during the 1st quarter. Manning & Napier Advisors LLC now owns 250,000 shares of the technology company's stock worth $7,800,000 after acquiring an additional 124,955 shares during the last quarter. Blue Trust Inc. grew its holdings in Match Group by 34.1% during the 1st quarter. Blue Trust Inc. now owns 7,382 shares of the technology company's stock worth $230,000 after acquiring an additional 1,878 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Match Group by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 179,405 shares of the technology company's stock worth $5,597,000 after acquiring an additional 775 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Match Group during the 1st quarter worth approximately $2,775,000. 94.05% of the stock is owned by institutional investors.

Match Group Price Performance

Shares of Match Group stock traded up $0.43 during trading on Friday, reaching $30.85. 5,427,852 shares of the company traded hands, compared to its average volume of 4,833,967. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50 day moving average price of $30.10 and a 200-day moving average price of $31.35. The firm has a market capitalization of $7.73 billion, a PE ratio of 15.27, a P/E/G ratio of 0.70 and a beta of 1.35.

Match Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group's payout ratio is 37.62%.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff acquired 70,885 shares of the stock in a transaction on Friday, May 9th. The shares were purchased at an average price 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 owns 137,478 shares in the company, valued at approximately $3,856,257.90. This represents a 106.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays reduced their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus dropped their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Citigroup dropped their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Bank of America dropped their price target on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Wells Fargo & Company boosted 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 report on Friday. One equities 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $35.96.

Get Our Latest Stock Report on MTCH

Match Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

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