Match Group Inc. $MTCH Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in Match Group Inc. (NASDAQ:MTCH) by 389.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 122,258 shares of the technology company’s stock after acquiring an additional 97,301 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Match Group were worth $3,777,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Match Group by 56.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after acquiring an additional 362 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Match Group in the 1st quarter worth approximately $49,000. Summit Securities Group LLC acquired a new position in shares of Match Group in the 1st quarter worth approximately $54,000. Harbour Investments Inc. lifted its holdings in shares of Match Group by 28.0% in the 2nd quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after acquiring an additional 446 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Match Group by 18.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock worth $77,000 after buying an additional 390 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Match Group

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the sale, the director directly owned 8,058 shares of the company’s stock, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The sale 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 the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the sale, the chief accounting officer directly owned 23,240 shares in the company, valued at approximately $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,454 shares of company stock valued at $907,839. Insiders own 0.64% of the company’s stock.

Match Group Trading Down 2.0%

Shares of NASDAQ:MTCH opened at $32.03 on Thursday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The company’s 50 day moving average is $35.48 and its two-hundred day moving average is $33.05. The company has a market cap of $7.71 billion, a PE ratio of 15.78, a P/E/G ratio of 0.65 and a beta of 1.38.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Match Group’s dividend payout ratio is currently 37.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Morgan Stanley cut their target price on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. JPMorgan Chase & Co. upped their target price on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Susquehanna upped their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Finally, Evercore ISI upped their target price on shares of Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Match Group presently has an average rating of “Hold” and an average target price of $35.56.

About Match Group

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.