Vident Advisory LLC Acquires 25,459 Shares of Match Group, Inc. (NASDAQ:MTCH)

Vident Advisory LLC increased its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 127.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,370 shares of the technology company's stock after buying an additional 25,459 shares during the period. Vident Advisory LLC's holdings in Match Group were worth $1,484,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Starboard Value LP lifted its stake in shares of Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after buying an additional 5,100,824 shares in the last quarter. Mawer Investment Management Ltd. lifted its stake in shares of Match Group by 716.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock worth $171,889,000 after buying an additional 4,611,598 shares in the last quarter. Norges Bank purchased a new position in shares of Match Group in the fourth quarter worth about $112,176,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Match Group by 110.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock worth $183,968,000 after buying an additional 2,952,470 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock worth $343,427,000 after buying an additional 2,042,677 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Price Performance

Shares of NASDAQ:MTCH traded up $0.46 during trading on Wednesday, hitting $30.78. 1,112,265 shares of the company were exchanged, compared to its average volume of 4,899,199. The firm's 50 day moving average price is $29.57 and its 200-day moving average price is $31.54. The stock has a market capitalization of $7.71 billion, a P/E ratio of 15.24, a PEG ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a 12-month low of $26.39 and a 12-month high of $38.84.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.47%. Match Group's dividend payout ratio is presently 37.62%.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares of the company's stock, valued at $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Spencer M. Rascoff acquired 70,885 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the acquisition, the chief executive officer now owns 137,478 shares of the company's stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTCH. Hsbc Global Res downgraded shares of Match Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Citigroup decreased 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 note on Friday, May 9th. Barclays cut their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Finally, Evercore ISI restated a "cautious" rating and set a $32.00 price objective on shares of Match Group in a research report on Wednesday, May 21st. One investment 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 data from MarketBeat, Match Group currently has a consensus rating of "Hold" and a consensus price target of $35.91.

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.