Mitsubishi UFJ Trust & Banking Corp Raises Stock Position in Match Group Inc. $MTCH

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 22.3% during the third quarter, HoldingsChannel.com reports. The fund owned 858,509 shares of the technology company’s stock after acquiring an additional 156,388 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Match Group were worth $30,323,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MTCH. Harbor Capital Advisors Inc. purchased a new position in shares of Match Group during the 3rd quarter valued at $25,000. Root Financial Partners LLC purchased a new stake in shares of Match Group in the third quarter worth $27,000. Employees Retirement System of Texas bought a new stake in Match Group during the second quarter valued at $28,000. Caldwell Trust Co bought a new stake in Match Group during the second quarter valued at $32,000. Finally, Quent Capital LLC purchased a new position in Match Group during the third quarter worth about $37,000. 94.05% of the stock is owned by institutional investors.

Match Group Price Performance

NASDAQ:MTCH opened at $31.08 on Monday. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.58 and a beta of 1.33. The business has a 50 day moving average of $32.52 and a 200 day moving average of $34.06. 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. Stockholders of record on Tuesday, January 6th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, January 6th. Match Group’s payout ratio is presently 35.51%.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $31.84 per share, with a total value of $445,760.00. Following the acquisition, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

MTCH has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a report on Thursday. Truist Financial decreased their price objective 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. Evercore ISI lowered their target price on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Match Group in a research note on Wednesday, December 10th. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.38.

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.