Match Group Inc. $MTCH Stake Boosted by LSV Asset Management

LSV Asset Management increased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 106.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,462,831 shares of the technology company’s stock after acquiring an additional 1,783,256 shares during the period. LSV Asset Management owned about 1.38% of Match Group worth $106,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Match Group in the 1st quarter worth about $142,281,000. Invesco Ltd. lifted its holdings in shares of Match Group by 64.2% during the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock valued at $298,451,000 after buying an additional 3,738,509 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Match Group by 15,523.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after buying an additional 3,465,877 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Match Group in the first quarter worth approximately $77,783,000. Finally, Ameriprise Financial Inc. increased its holdings in Match Group by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock worth $384,808,000 after buying an additional 1,822,362 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MTCH. Morgan Stanley reduced their target price on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Wells Fargo & Company cut their price target on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Susquehanna increased their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Finally, Evercore ISI cut their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Match Group Price Performance

Shares of MTCH opened at $31.58 on Tuesday. The company has a market capitalization of $7.46 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.63 and a beta of 1.41. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The company’s fifty day moving average price is $34.20 and its 200 day moving average price is $33.35.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Match Group’s payout ratio is presently 35.51%.

Insider Activity

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director directly owned 21,926 shares of the company’s stock, valued at $823,979.08. The trade was a 19.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company’s 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 owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is currently owned by insiders.

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.