Redwood Investment Management LLC Acquires 110,340 Shares of Match Group, Inc. (NASDAQ:MTCH)

Redwood Investment Management LLC boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 149.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184,097 shares of the technology company's stock after buying an additional 110,340 shares during the quarter. Match Group accounts for approximately 0.6% of Redwood Investment Management LLC's portfolio, making the stock its 20th largest holding. Redwood Investment Management LLC owned 0.07% of Match Group worth $6,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTCH. Nisa Investment Advisors LLC grew its position in shares of Match Group by 94.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company's stock valued at $1,947,000 after purchasing an additional 28,884 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after purchasing an additional 939,078 shares during the last quarter. Penn Davis Mcfarland Inc. grew its position in shares of Match Group by 1.8% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company's stock valued at $15,665,000 after purchasing an additional 8,414 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Match Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock valued at $87,267,000 after purchasing an additional 69,947 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Match Group in the fourth quarter valued at approximately $250,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Up 0.9%

MTCH traded up $0.27 during trading on Friday, hitting $29.25. The company had a trading volume of 3,871,923 shares, compared to its average volume of 4,906,254. The company has a market capitalization of $7.33 billion, a PE ratio of 14.48, a PEG ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a one year low of $26.39 and a one year high of $38.84. The firm's 50-day moving average price is $29.77 and its 200 day moving average price is $31.80.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.60%. Match Group's payout ratio is currently 37.62%.

Insider Buying and Selling at Match Group

In other Match Group news, CEO Spencer M. Rascoff acquired 70,885 shares of the business's stock in a transaction on Friday, May 9th. The stock was purchased at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the acquisition, the chief executive officer now directly owns 137,478 shares of the company's stock, 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 hyperlink. Also, President Gary Swidler sold 242,209 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MTCH. HSBC lowered shares of Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Citigroup lowered 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 report on Friday, May 9th. Evercore ISI lowered their price target on shares of Match Group from $35.00 to $32.00 and set an "in-line" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company reduced 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. Finally, 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. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Match Group currently has an average rating of "Hold" and an average 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.