NorthCrest Asset Manangement LLC Makes New $787,000 Investment in Match Group Inc. $MTCH

NorthCrest Asset Manangement LLC acquired a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,762 shares of the technology company’s stock, valued at approximately $787,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Woodline Partners LP bought a new position in Match Group in the 1st quarter valued at about $662,000. Parallel Advisors LLC lifted its holdings in shares of 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Match Group by 20.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,372 shares of the technology company’s stock valued at $533,000 after buying an additional 2,815 shares during the last quarter. Diversified Trust Co bought a new stake in Match Group during the second quarter worth $510,000. Finally, Public Employees Retirement System of Ohio raised its position in Match Group by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock valued at $2,780,000 after buying an additional 10,269 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Stock Up 0.5%

MTCH opened at $31.01 on Thursday. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The company’s 50-day moving average price is $32.57 and its two-hundred day moving average price is $34.06. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.58 and a beta of 1.33.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th were paid a $0.19 dividend. The ex-dividend date was Tuesday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.5%. Match Group’s dividend payout ratio is presently 35.51%.

Analyst Ratings Changes

A number of research firms have issued reports on MTCH. Wells Fargo & Company cut their price objective 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. Wolfe Research set a $43.00 price target on shares of Match Group and gave the stock an “outperform” rating in a report on Monday, January 5th. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a research note on Wednesday, December 10th. UBS Group set a $37.00 target price on Match Group in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Four investment 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, Match Group currently has an average rating of “Hold” and a consensus price target of $36.38.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff bought 14,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, with a total value 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 $5,257,675.52. This represents a 9.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

Match Group 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.