Raymond James Financial Inc. Boosts Holdings in Match Group Inc. $MTCH

Key Points

• Raymond James Financial Inc. increased its stake in Match Group Inc. by 140.9%, acquiring an additional 213,333 shares, bringing its total ownership to 364,698 shares valued at approximately $11.38 million.
• Match Group recently announced a quarterly dividend of $0.19 per share, with an annualized dividend yield of 2.0%, payable on October 17th to investors of record by October 3rd.
• Analysts have mixed views on Match Group, with price targets ranging from $32.00 to $46.00, and the stock receiving an average "Hold" rating with a target price of $35.44.

Raymond James Financial Inc. lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 140.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 364,698 shares of the technology company's stock after acquiring an additional 213,333 shares during the period. Raymond James Financial Inc. owned 0.15% of Match Group worth $11,379,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Match Group during the 1st quarter valued at $37,000. Mather Group LLC. lifted its position in shares of Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after acquiring an additional 1,434 shares during the period. CX Institutional acquired a new position in shares of Match Group during the 1st quarter valued at $103,000. Assetmark Inc. lifted its position in shares of Match Group by 14.1% during the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock valued at $108,000 after acquiring an additional 429 shares during the period. Finally, State of Wyoming raised its holdings in Match Group by 245.5% during the fourth quarter. State of Wyoming now owns 3,507 shares of the technology company's stock worth $115,000 after buying an additional 2,492 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

MTCH has been the topic of several research reports. Evercore ISI upped their price objective on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Citigroup lowered their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Susquehanna upped their price objective on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $35.44.

Match Group Price Performance

Shares of MTCH stock traded down $0.28 on Thursday, hitting $37.31. The stock had a trading volume of 1,278,563 shares, compared to its average volume of 4,685,856. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The business has a 50 day moving average of $34.72 and a 200 day moving average of $31.94. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group Announces Dividend

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

Insider Transactions at Match Group

In related 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 value of $459,000.00. Following the sale, the director directly owned 8,058 shares of the company's stock, valued at $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann Mcdaniel sold 5,423 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total transaction of $203,796.34. Following the completion of the sale, the director directly owned 21,926 shares in the company, valued at $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company's stock.

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.