Y Intercept Hong Kong Ltd Acquires New Position in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Y Intercept Hong Kong Ltd acquired a new stake in Match Group Inc., purchasing 24,957 shares worth approximately $779,000 during the first quarter.
• Analyst ratings for Match Group are mixed, with a consensus "Hold" rating and target price around $36.16, while various firms have adjusted their target prices recently.
• Match Group announced a quarterly dividend of $0.19 per share, resulting in an annual yield of 2.20%, with a dividend payout ratio of 37.62%.

Y Intercept Hong Kong Ltd acquired a new stake in Match Group Inc. (NASDAQ:MTCH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,957 shares of the technology company's stock, valued at approximately $779,000.

A number of other institutional investors also recently bought and sold shares of MTCH. NBC Securities Inc. acquired a new position in Match Group in the first quarter valued at $37,000. Canada Post Corp Registered Pension Plan acquired a new position in Match Group in the fourth quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after purchasing an additional 1,512 shares during the period. Mather Group LLC. increased its stake in Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after purchasing an additional 1,434 shares during the period. Finally, CX Institutional acquired a new position in Match Group in the first quarter valued at $103,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of Match Group stock in a transaction on 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 acquisition, the chief executive officer directly owned 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MTCH shares. Bank of America dropped their price objective on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. UBS Group boosted their price target on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup dropped 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. Stifel Nicolaus dropped their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Match Group has an average rating of "Hold" and a consensus target price of $36.16.

Match Group Price Performance

Shares of NASDAQ MTCH traded down $0.10 on Tuesday, hitting $34.06. The company's stock had a trading volume of 759,979 shares, compared to its average volume of 4,691,981. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $38.84. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.76 and a beta of 1.34. The stock has a 50 day moving average of $31.48 and a 200-day moving average of $31.40.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, July 3rd. Match Group's dividend payout ratio (DPR) is presently 37.62%.

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.