Norges Bank Invests $112.64 Million in Match Group Inc. $MTCH

Norges Bank purchased a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,488,428 shares of the technology company’s stock, valued at approximately $112,641,000.

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

Match Group Stock Performance

Shares of MTCH opened at $34.76 on Friday. The business’s 50-day moving average is $34.69 and its two-hundred day moving average is $32.84. The company has a market capitalization of $8.11 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.55 and a beta of 1.33. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $39.20.

Match Group Announces Dividend

The business also recently declared 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 (DPR) is currently 30.53%.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the 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 approximately $582,874.92. This trade represents a 24.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MTCH shares. Citigroup upped their target price on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Barclays upped their target price on Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley upped their target price on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Finally, Royal Bank Of Canada upped their target price on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Match Group currently has an average rating of “Hold” and a consensus price target of $41.07.

About Match Group

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.