Prudential Financial Inc. Boosts Stock Holdings in Match Group Inc. $MTCH

Prudential Financial Inc. increased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 4.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 147,188 shares of the technology company’s stock after buying an additional 6,021 shares during the quarter. Prudential Financial Inc.’s holdings in Match Group were worth $4,547,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTCH. MassMutual Private Wealth & Trust FSB raised its position in shares of Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after acquiring an additional 362 shares during the period. SVB Wealth LLC purchased a new position in shares of Match Group in the 1st quarter valued at about $49,000. Summit Securities Group LLC acquired a new position in Match Group in the 1st quarter worth about $54,000. Harbour Investments Inc. boosted its position in Match Group by 28.0% during the second quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after purchasing an additional 446 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Match Group by 18.5% in the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock valued at $77,000 after purchasing an additional 390 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Up 0.3%

Shares of NASDAQ MTCH opened at $33.33 on Monday. The firm has a 50-day simple moving average of $33.22 and a 200-day simple moving average of $33.56. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 0.63 and a beta of 1.41. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, January 6th. Match Group’s dividend payout ratio (DPR) is 35.51%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Morgan Stanley reduced their price objective on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Truist Financial dropped their target price on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Susquehanna boosted their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. 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, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff purchased 14,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the transaction, the chief executive officer directly owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the sale, the chief accounting officer directly owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This represents a 21.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.64% of the company’s stock.

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.