Ritholtz Wealth Management Invests $686,000 in Match Group Inc. $MTCH

Ritholtz Wealth Management bought a new position in Match Group Inc. (NASDAQ:MTCH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,425 shares of the technology company’s stock, valued at approximately $686,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Woodline Partners LP bought a new stake in shares of Match Group during the first quarter worth $662,000. Parallel Advisors LLC lifted its position in Match Group by 18.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock worth $77,000 after buying an additional 390 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Match Group during the 2nd quarter worth about $207,000. Wealth Enhancement Advisory Services LLC increased its position in Match Group by 20.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,372 shares of the technology company’s stock valued at $533,000 after acquiring an additional 2,815 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of Match Group in the second quarter worth about $510,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of Match Group stock in a transaction that occurred on Thursday, November 20th. The shares were acquired 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 $5,257,675.52. The trade was a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on MTCH shares. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Wolfe Research set a $43.00 price objective on Match Group and gave the company an “outperform” rating in a research report on Monday, January 5th. Wells Fargo & Company dropped their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Truist Financial cut their price target on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Finally, UBS Group set a $37.00 price objective on Match Group in a research report on Tuesday, January 13th. Four equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.38.

Match Group Stock Down 1.5%

Shares of Match Group stock opened at $30.85 on Wednesday. The business has a fifty day simple moving average of $32.61 and a 200 day simple moving average of $34.08. The stock has a market cap of $7.28 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.59 and a beta of 1.33. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, January 6th. Match Group’s dividend payout ratio (DPR) is currently 35.51%.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.