Match Group Inc. $MTCH Stake Increased by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 79.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,649 shares of the technology company’s stock after acquiring an additional 20,626 shares during the period. HighTower Advisors LLC’s holdings in Match Group were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bollard Group LLC raised its holdings in shares of Match Group by 0.6% during the third quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock worth $1,938,000 after acquiring an additional 317 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Match Group by 12.8% during the fourth quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock worth $91,000 after acquiring an additional 320 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Match Group by 8.2% during the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after acquiring an additional 326 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Match Group by 2.8% during the third quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock worth $432,000 after acquiring an additional 333 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Match Group by 6.0% during the fourth quarter. Mather Group LLC. now owns 6,477 shares of the technology company’s stock worth $209,000 after acquiring an additional 364 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Match Group from $30.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Citigroup increased their price objective on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus price target of $41.07.

Insider Buying and Selling

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director directly owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by insiders.

Match Group Price Performance

Match Group stock opened at $35.32 on Wednesday. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.59 and a beta of 1.33. Match Group Inc. has a one year low of $28.81 and a one year high of $39.20. The company’s fifty day moving average price is $34.46 and its two-hundred day moving average price is $32.80.

Match Group Announces Dividend

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

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.