Seizert Capital Partners LLC Acquires 45,957 Shares of Match Group Inc. (NASDAQ:MTCH)

Key Points

• Seizert Capital Partners LLC increased its position in Match Group Inc. by 3.1% in Q1, holding approximately 1.53 million shares worth about $47.67 million, making it the firm's 17th largest investment.
• Analysts have issued mixed ratings on Match Group, with a consensus rating of "Hold" and an average target price of $36.16, although various firms like Wells Fargo and Bank of America revised their price targets downward.
• The company announced a quarterly dividend of $0.19 per share, reflecting a 2.23% yield, which was paid to investors of record on July 3rd, 2023.

Seizert Capital Partners LLC lifted its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,527,924 shares of the technology company's stock after buying an additional 45,957 shares during the quarter. Match Group comprises 2.2% of Seizert Capital Partners LLC's investment portfolio, making the stock its 17th biggest position. Seizert Capital Partners LLC owned about 0.61% of Match Group worth $47,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MTCH. Applied Finance Capital Management LLC boosted its holdings in Match Group by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock valued at $215,000 after purchasing an additional 334 shares during the period. Fulton Bank N.A. grew its position in Match Group by 3.9% during the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after buying an additional 388 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in Match Group by 1.8% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock worth $757,000 after acquiring an additional 415 shares during the last quarter. Assetmark Inc. increased its stake in Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock worth $108,000 after acquiring an additional 429 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in shares of Match Group by 2.7% in the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company's stock valued at $546,000 after acquiring an additional 455 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MTCH shares. Wells Fargo & Company boosted their price objective on 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 cut shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Stifel Nicolaus lowered their price objective 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. Barclays dropped their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their target price on Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $36.06.

Match Group Price Performance

Match Group stock traded down $0.67 during trading hours on Friday, reaching $33.60. The company had a trading volume of 6,389,421 shares, compared to its average volume of 3,513,019. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $38.77. The company has a 50-day moving average price of $31.77 and a 200 day moving average price of $31.46. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.76 and a beta of 1.36.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, July 3rd. Match Group's dividend payout ratio is currently 37.62%.

Insider Buying and Selling

In other news, CEO Spencer M. Rascoff purchased 70,885 shares of the company's stock in a transaction on Friday, May 9th. The stock was acquired at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the transaction, the chief executive officer directly owned 137,478 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is owned by corporate insiders.

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.