Thrivent Financial for Lutherans Increases Holdings in Match Group Inc. $MTCH

Thrivent Financial for Lutherans raised its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 346.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 233,630 shares of the technology company’s stock after buying an additional 181,317 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Match Group were worth $8,252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MTCH. Norges Bank acquired a new position in Match Group in the second quarter valued at approximately $134,429,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Match Group by 15,523.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after buying an additional 3,465,877 shares in the last quarter. LSV Asset Management grew its position in shares of Match Group by 106.2% in the 2nd quarter. LSV Asset Management now owns 3,462,831 shares of the technology company’s stock valued at $106,967,000 after buying an additional 1,783,256 shares during the last quarter. Callodine Capital Management LP raised its stake in Match Group by 67.3% during the 2nd quarter. Callodine Capital Management LP now owns 1,355,000 shares of the technology company’s stock worth $41,856,000 after acquiring an additional 545,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Match Group by 21.2% in the second quarter. Bank of America Corp DE now owns 2,908,669 shares of the technology company’s stock valued at $89,849,000 after acquiring an additional 507,901 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MTCH. Truist Financial reduced their target price on Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price objective on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley set a $35.00 target price on shares of Match Group in a research report on Wednesday. Evercore ISI reduced their price target on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.86.

Insider Buying and Selling

In other news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The stock was bought at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the purchase, the chief executive officer owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.64% of the company’s stock.

Match Group Trading Up 0.8%

NASDAQ:MTCH opened at $30.85 on Friday. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The stock’s 50 day simple moving average is $32.30 and its 200-day simple moving average is $33.94. The firm has a market cap of $7.28 billion, a P/E ratio of 12.96, a PEG ratio of 0.57 and a beta of 1.32.

Match Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, April 7th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $0.80 annualized dividend and a yield of 2.6%. This is an increase from Match Group’s previous quarterly dividend of $0.19. Match Group’s dividend payout ratio is presently 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.