Victory Capital Management Inc. Boosts Stake in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Victory Capital Management Inc. increased its stake in Match Group Inc. by 21.0%, acquiring an additional 36,739 shares to reach a total of 211,966 shares worth approximately $6.61 million.
• Analysts have revised Match Group's price targets, with Barclays lowering it from $52 to $46, while Evercore ISI set a price objective of $32, indicating a mixed outlook for the stock.
• CEO Spencer M. Rascoff significantly boosted his holdings by acquiring 70,885 shares in May, raising his stake by over 106%, which highlights insider confidence in the company's future.

Victory Capital Management Inc. increased its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,966 shares of the technology company's stock after buying an additional 36,739 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Match Group worth $6,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fulton Bank N.A. boosted its position in Match Group by 3.9% in the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after purchasing an additional 388 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings 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 valued at $757,000 after purchasing an additional 415 shares in the last quarter. Penserra Capital Management LLC increased its stake 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 worth $546,000 after acquiring an additional 455 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Match Group by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company's stock worth $2,445,000 after acquiring an additional 478 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Match Group by 2.9% during the 4th quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company's stock worth $677,000 after purchasing an additional 576 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Price Performance

Shares of NASDAQ:MTCH traded up $0.04 during trading on Tuesday, reaching $34.20. The company had a trading volume of 593,705 shares, compared to its average volume of 4,691,466. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The stock's fifty day moving average price is $31.48 and its 200 day moving average price is $31.40. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, July 3rd. Match Group's payout ratio is currently 37.62%.

Insider Activity

In related news, CEO Spencer M. Rascoff bought 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The shares were acquired 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 owned 137,478 shares in the company, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MTCH shares. Barclays cut their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. UBS Group raised their price objective on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Evercore ISI restated a "cautious" rating and set a $32.00 target price on shares of Match Group in a report on Wednesday, May 21st. Finally, Morgan Stanley lowered their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Match Group has a consensus rating of "Hold" and an average target price of $36.16.

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.