Rhumbline Advisers Grows Stock Holdings in Match Group Inc. $MTCH
by Amy Steele · The Cerbat GemRhumbline Advisers boosted its holdings in Match Group Inc. (NASDAQ:MTCH – Free Report) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 505,136 shares of the technology company’s stock after buying an additional 9,022 shares during the quarter. Rhumbline Advisers’ holdings in Match Group were worth $15,604,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of Match Group by 14.1% during the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company’s stock worth $108,000 after acquiring an additional 429 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Match Group by 29.7% during the 1st quarter. Mackenzie Financial Corp now owns 77,696 shares of the technology company’s stock worth $2,424,000 after acquiring an additional 17,810 shares in the last quarter. Federated Hermes Inc. lifted its stake in Match Group by 82.3% during the first quarter. Federated Hermes Inc. now owns 7,331 shares of the technology company’s stock worth $229,000 after purchasing an additional 3,310 shares during the last quarter. Vestcor Inc boosted its holdings in Match Group by 171.1% in the first quarter. Vestcor Inc now owns 17,760 shares of the technology company’s stock valued at $554,000 after purchasing an additional 11,209 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in Match Group in the first quarter valued at approximately $468,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Match Group Stock Performance
Shares of Match Group stock opened at $33.33 on Friday. The company has a market capitalization of $7.87 billion, a P/E ratio of 16.42, a PEG ratio of 0.63 and a beta of 1.41. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The company’s fifty day moving average is $33.22 and its two-hundred day moving average is $33.53.
Match Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s dividend payout ratio (DPR) is currently 35.51%.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on MTCH shares. JPMorgan Chase & Co. boosted their price objective on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company decreased their price objective on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Finally, Truist Financial reduced their target price on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.
Get Our Latest Research Report on Match Group
Insider Activity
In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of Match Group stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer directly owned 23,240 shares in the company, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Spencer M. Rascoff purchased 14,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were bought at an average price of $31.84 per share, with a total value of $445,760.00. Following the purchase, the chief executive officer directly owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.64% of the company’s stock.
Match Group Company 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.
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