LSV Asset Management Purchases 1,307,949 Shares of Match Group Inc. $MTCH

LSV Asset Management lifted its holdings in Match Group Inc. (NASDAQ:MTCH) by 37.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,770,780 shares of the technology company’s stock after buying an additional 1,307,949 shares during the period. LSV Asset Management’s holdings in Match Group were worth $168,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTCH. CWM LLC grew its stake in shares of Match Group by 3,228.4% during the 3rd quarter. CWM LLC now owns 266,406 shares of the technology company’s stock valued at $9,409,000 after acquiring an additional 258,402 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Match Group by 611.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 116,535 shares of the technology company’s stock worth $3,857,000 after acquiring an additional 100,163 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Match Group by 71.2% during the second quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock valued at $965,000 after purchasing an additional 12,987 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Match Group by 24.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 63,024 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 12,206 shares during the period. Finally, Capital Fund Management S.A. boosted its position in shares of Match Group by 507.1% in the second quarter. Capital Fund Management S.A. now owns 443,862 shares of the technology company’s stock worth $13,711,000 after purchasing an additional 370,745 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Down 3.5%

Shares of MTCH stock opened at $31.37 on Thursday. The company’s fifty day simple moving average is $32.17 and its two-hundred day simple moving average is $33.90. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The stock has a market cap of $7.40 billion, a P/E ratio of 13.18, a PEG ratio of 0.63 and a beta of 1.32.

Match Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be given a $0.20 dividend. This is an increase from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, April 7th. Match Group’s dividend payout ratio (DPR) is presently 31.93%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTCH. TD Cowen decreased their price objective on shares of Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Evercore decreased their price target on Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Raymond James Financial restated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 target price on shares of Match Group in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. decreased their target price on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.86.

Insider Buying and Selling

In other news, CEO Spencer M. Rascoff purchased 14,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was acquired at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the acquisition, the chief executive officer directly 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.

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.