Match Group Inc. $MTCH Position Boosted by Philosophy Capital Management LLC

Key Points

• Philosophy Capital Management LLC increased its stake in Match Group Inc. by 160.3% during the first quarter, making it the firm's 9th largest holding with approximately $28.42 million worth of shares.
• Several hedge funds have also adjusted their positions in Match Group, reflecting a strong interest from institutional investors, who now own 94.05% of the company's stock.
• A recent quarterly dividend of $0.19 per share has been declared by Match Group, with an annualized rate of $0.76 and a yield of 2.0%.

Philosophy Capital Management LLC boosted its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 160.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 910,923 shares of the technology company's stock after acquiring an additional 560,924 shares during the period. Match Group makes up approximately 2.0% of Philosophy Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Philosophy Capital Management LLC owned 0.36% of Match Group worth $28,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. increased its position in shares of Match Group by 5.0% in the first quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company's stock valued at $614,000 after acquiring an additional 939 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Match Group by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company's stock valued at $1,015,000 after acquiring an additional 2,429 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Match Group by 34.0% in the first quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company's stock valued at $496,000 after acquiring an additional 4,035 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Match Group by 79.2% in the first quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company's stock valued at $289,000 after acquiring an additional 4,090 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Match Group by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company's stock valued at $17,272,000 after acquiring an additional 47,137 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mcdaniel sold 5,423 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the sale, the director directly owned 21,926 shares of the company's stock, valued at $823,979.08. The trade was a 19.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,454 shares of company stock valued at $907,839. Corporate insiders own 0.64% of the company's stock.

Match Group Stock Down 0.0%

Shares of MTCH stock traded down $0.02 during trading hours on Thursday, hitting $37.89. 1,680,264 shares of the company were exchanged, compared to its average volume of 4,648,209. The firm has a market cap of $9.12 billion, a PE ratio of 18.66, a PEG ratio of 0.76 and a beta of 1.36. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The firm has a fifty day moving average of $35.39 and a 200 day moving average of $32.07.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is presently 37.44%.

Analyst Ratings Changes

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

About Match Group

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.