Match Group Inc. $MTCH Position Raised by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in Match Group Inc. (NASDAQ:MTCH) by 28.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,039 shares of the technology company’s stock after buying an additional 446 shares during the quarter. Harbour Investments Inc.’s holdings in Match Group were worth $63,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its stake in Match Group by 5.0% in the first quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company’s stock valued at $614,000 after buying an additional 939 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Match Group by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company’s stock valued at $1,015,000 after buying an additional 2,429 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Match Group by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock valued at $2,780,000 after buying an additional 10,269 shares during the last quarter. Patton Fund Management Inc. bought a new stake in Match Group in the second quarter valued at $226,000. Finally, Meritage Portfolio Management bought a new stake in Match Group in the second quarter valued at $693,000. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MTCH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. UBS Group raised their price target on Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their price target on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised their price target on Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.56.

Insider Buying and Selling

In related news, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the transaction, the director directly owned 21,926 shares of the company’s stock, valued at $823,979.08. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,454 shares of company stock valued at $907,839 over the last three months. Company insiders own 0.64% of the company’s stock.

Match Group Stock Down 1.3%

NASDAQ:MTCH opened at $32.75 on Friday. The business’s 50-day moving average price is $35.89 and its 200 day moving average price is $32.86. The firm has a market cap of $7.88 billion, a P/E ratio of 16.13, a PEG ratio of 0.66 and a beta of 1.38. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, October 3rd. Match Group’s payout ratio is presently 37.44%.

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.