Swedbank AB Purchases 148,700 Shares of Match Group Inc. $MTCH

Swedbank AB increased its position in Match Group Inc. (NASDAQ:MTCH) by 22.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 816,800 shares of the technology company’s stock after buying an additional 148,700 shares during the quarter. Swedbank AB’s holdings in Match Group were worth $26,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Match Group by 14.6% in the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Match Group by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Match Group by 1,163.7% in the third quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares in the last quarter. LSV Asset Management lifted its position in shares of Match Group by 18.3% in the fourth quarter. LSV Asset Management now owns 5,644,584 shares of the technology company’s stock worth $182,264,000 after buying an additional 873,804 shares in the last quarter. Finally, DNB Asset Management AS lifted its position in shares of Match Group by 32.9% in the fourth quarter. DNB Asset Management AS now owns 3,431,061 shares of the technology company’s stock worth $110,789,000 after buying an additional 849,472 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $35.80 on Tuesday. The firm’s 50-day moving average price is $33.92 and its 200-day moving average price is $32.68. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 0.57 and a beta of 1.36. Match Group Inc. has a 12-month low of $28.81 and a 12-month high of $39.20.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s dividend payout ratio is 30.53%.

Insiders Place Their Bets

In related news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the sale, the director directly owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley boosted their target price on Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on Match Group in a research report on Wednesday, May 6th. Citigroup boosted their target price on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group restated a “buy” rating and set a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.07.

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.