HighTower Advisors LLC Has $1.51 Million Position in Match Group Inc. $MTCH

HighTower Advisors LLC grew its holdings in Match Group Inc. (NASDAQ:MTCH) by 79.3% during the 4th quarter, HoldingsChannel reports. The firm owned 46,649 shares of the technology company’s stock after acquiring an additional 20,626 shares during the quarter. HighTower Advisors LLC’s holdings in Match Group were worth $1,506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management grew its position in shares of Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Match Group in the third quarter valued at about $28,000. Rossby Financial LCC grew its position in shares of Match Group by 126.5% in the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock valued at $31,000 after purchasing an additional 506 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Match Group in the fourth quarter valued at about $38,000. Finally, Wexford Capital LP acquired a new stake in shares of Match Group in the third quarter valued at about $43,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Down 3.9%

MTCH stock opened at $35.32 on Wednesday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $39.20. The company has a market cap of $8.24 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.59 and a beta of 1.33. The business’s 50-day simple moving average is $34.46 and its 200 day simple moving average is $32.80.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Match Group’s dividend payout ratio (DPR) is 30.53%.

Analyst Upgrades and Downgrades

MTCH has been the topic of several research analyst reports. Truist Financial set a $37.00 price target on Match Group in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Wells Fargo & Company lifted their target price on Match Group from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, TD Cowen lifted their target price on Match Group from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.07.

Insiders Place Their Bets

In related news, Director Melissa Anne Brenner sold 5,141 shares of Match Group stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.94, for a total transaction of $184,767.54. Following the sale, the director directly owned 16,218 shares of the company’s stock, valued at $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is currently 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.