Rakuten Investment Management Inc. Buys New Shares in Match Group Inc. $MTCH

Rakuten Investment Management Inc. purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH) during the third quarter, Holdings Channel.com reports. The firm purchased 36,004 shares of the technology company’s stock, valued at approximately $1,272,000.

Several other large investors have also recently modified their holdings of the stock. Vest Financial LLC bought a new position in Match Group in the 3rd quarter worth $283,000. Seizert Capital Partners LLC boosted its stake in Match Group by 0.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 1,773,666 shares of the technology company’s stock worth $62,646,000 after purchasing an additional 8,350 shares in the last quarter. Jackson Thornton Wealth Management LLC purchased a new stake in shares of Match Group during the third quarter valued at approximately $313,000. Inscription Capital LLC purchased a new stake in Match Group during the 3rd quarter valued at $507,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Match Group during the third quarter valued at $27,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $31.08 on Friday. The firm has a market capitalization of $7.34 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.33. The business has a 50 day simple moving average of $32.52 and a two-hundred day simple moving average of $34.05. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20.

Match Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

MTCH has been the subject of a number of research reports. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Evercore ISI decreased their price objective on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley lifted their target price on Match Group from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research note on Thursday. Finally, Truist Financial decreased their price objective on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.38.

Insider Buying and Selling

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction on Thursday, November 20th. The shares were acquired at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the purchase, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by company insiders.

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.