Edgestream Partners L.P. Raises Stock Holdings in Match Group Inc. $MTCH

Edgestream Partners L.P. lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 139.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 230,744 shares of the technology company’s stock after purchasing an additional 134,545 shares during the period. Edgestream Partners L.P. owned about 0.09% of Match Group worth $7,128,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MTCH. Nuveen LLC acquired a new stake in shares of Match Group in the 1st quarter worth about $142,281,000. Norges Bank acquired a new position in shares of Match Group in the second quarter worth about $134,429,000. Invesco Ltd. raised its position in Match Group by 64.2% during the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock valued at $298,451,000 after buying an additional 3,738,509 shares during the period. Jupiter Asset Management Ltd. lifted its position in shares of Match Group by 15,523.3% in the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock worth $107,751,000 after purchasing an additional 3,465,877 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Match Group during the first quarter worth $77,783,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Susquehanna raised their target price on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Finally, Evercore ISI reduced their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.00.

Match Group Price Performance

Shares of MTCH opened at $33.75 on Tuesday. The business has a fifty day moving average of $33.17 and a 200 day moving average of $33.59. The firm has a market capitalization of $7.97 billion, a P/E ratio of 16.63, a PEG ratio of 0.63 and a beta of 1.41. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, January 6th. Match Group’s payout ratio is presently 35.51%.

Insider Transactions at Match Group

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer owned 165,128 shares of the company’s stock, valued at $5,257,675.52. This represents a 9.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Philip D. Eigenmann sold 6,531 shares of Match Group stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the transaction, the chief accounting officer owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.64% of the stock is owned by corporate insiders.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.