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

Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 22.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 858,509 shares of the technology company’s stock after acquiring an additional 156,388 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.36% of Match Group worth $30,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Match Group during the 2nd quarter valued at $134,429,000. Jupiter Asset Management Ltd. grew its position in Match Group by 15,523.3% during the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after buying an additional 3,465,877 shares during the period. LSV Asset Management grew its position in Match Group by 106.2% during the second quarter. LSV Asset Management now owns 3,462,831 shares of the technology company’s stock valued at $106,967,000 after buying an additional 1,783,256 shares during the period. Callodine Capital Management LP increased its holdings in Match Group by 67.3% during the second quarter. Callodine Capital Management LP now owns 1,355,000 shares of the technology company’s stock worth $41,856,000 after buying an additional 545,000 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Match Group by 21.2% in the second quarter. Bank of America Corp DE now owns 2,908,669 shares of the technology company’s stock worth $89,849,000 after acquiring an additional 507,901 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff bought 14,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the purchase, the chief executive officer directly owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MTCH. Evercore ISI dropped 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. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a research note on Wednesday, December 10th. Wells Fargo & Company reduced their price objective on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Wolfe Research set a $43.00 target price on Match Group and gave the company an “outperform” rating in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Match Group currently has an average rating of “Hold” and an average price target of $36.38.

Match Group Trading Down 1.4%

Match Group stock opened at $31.08 on Monday. The firm has a 50 day simple moving average of $32.52 and a 200 day simple moving average of $34.06. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 0.58 and a beta of 1.33.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th were paid a dividend of $0.19 per share. 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%.

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.