Pallas Capital Advisors LLC Has $1.88 Million Stake in Match Group Inc. $MTCH

Pallas Capital Advisors LLC increased its stake in Match Group Inc. (NASDAQ:MTCH) by 287.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,219 shares of the technology company’s stock after purchasing an additional 39,469 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Match Group were worth $1,880,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Aberdeen Group plc raised its position in shares of Match Group by 27.1% in the third quarter. Aberdeen Group plc now owns 43,188 shares of the technology company’s stock valued at $1,525,000 after purchasing an additional 9,198 shares during the period. Ground Swell Capital LLC acquired a new position in Match Group in the 3rd quarter valued at $473,000. Illinois Municipal Retirement Fund raised its holdings in Match Group by 40.4% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 131,991 shares of the technology company’s stock worth $4,662,000 after acquiring an additional 37,999 shares during the period. Leuthold Group LLC acquired a new position in Match Group during the 3rd quarter worth $204,000. Finally, Savvy Advisors Inc. acquired a new position in Match Group during the 3rd quarter worth $371,000. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In other news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction that occurred on Thursday, November 20th. The stock was purchased 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 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 accessible through this hyperlink. 0.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTCH. Truist Financial lowered their price target on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a research note on Thursday, January 22nd. Wells Fargo & Company dropped their price target on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. TD Cowen cut their price target on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, UBS Group set a $34.00 price objective on Match Group in a research report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus target price of $35.86.

Match Group Stock Up 1.9%

Match Group stock opened at $30.50 on Tuesday. The business has a 50 day moving average price of $31.94 and a two-hundred day moving average price of $33.81. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.32.

Match Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. Match Group’s dividend payout ratio is currently 31.93%.

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.