Wealth Enhancement Advisory Services LLC Purchases 10,891 Shares of Match Group, Inc. (NASDAQ:MTCH)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 159.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,736 shares of the technology company's stock after acquiring an additional 10,891 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Match Group were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Match Group in the fourth quarter valued at $2,568,000. Siemens Fonds Invest GmbH acquired a new position in Match Group in the 4th quarter valued at $382,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Match Group in the fourth quarter valued at about $5,125,000. Polar Asset Management Partners Inc. acquired a new stake in Match Group in the 4th quarter worth about $8,249,000. Finally, Mackenzie Financial Corp grew its position in shares of Match Group by 6.8% during the 4th quarter. Mackenzie Financial Corp now owns 59,886 shares of the technology company's stock worth $1,959,000 after purchasing an additional 3,787 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the transaction, the chief executive officer now directly owns 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.64% of the company's stock.

Match Group Trading Down 2.8%

Match Group stock traded down $0.88 during trading on Thursday, hitting $30.66. 3,483,863 shares of the company were exchanged, compared to its average volume of 4,891,824. The business's 50 day moving average is $29.57 and its 200 day moving average is $31.53. Match Group, Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The company has a market capitalization of $7.68 billion, a P/E ratio of 15.18, a PEG ratio of 0.82 and a beta of 1.35.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.48%. Match Group's payout ratio is currently 37.62%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MTCH. Stifel Nicolaus cut their target price on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective 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. Morgan Stanley dropped their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Finally, Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average 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.