Legal & General Group Plc Acquires 46,174 Shares of Match Group Inc. $MTCH

Legal & General Group Plc increased its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 11.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 455,586 shares of the technology company’s stock after purchasing an additional 46,174 shares during the period. Legal & General Group Plc’s holdings in Match Group were worth $14,073,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in Match Group by 56.0% during the second 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 in the last quarter. SVB Wealth LLC bought a new stake in shares of Match Group during the 1st quarter valued at approximately $49,000. Summit Securities Group LLC acquired a new position in Match Group during the 1st quarter worth approximately $54,000. Harbour Investments Inc. lifted its stake in Match Group by 28.0% in the 2nd quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock valued at $63,000 after purchasing an additional 446 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Match Group by 18.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock valued at $77,000 after purchasing an additional 390 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was 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 trade represents a 21.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Spencer M. Rascoff acquired 14,000 shares of the stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the transaction, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. This represents a 9.26% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.64% of the company’s stock.

Match Group Stock Performance

Match Group stock opened at $33.33 on Friday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.63 and a beta of 1.41. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The firm has a 50 day moving average price of $33.22 and a two-hundred day moving average price of $33.53.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.3%. Match Group’s payout ratio is presently 35.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company dropped their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley reduced their price target on Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. JPMorgan Chase & Co. raised their price objective on shares of Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Finally, Evercore ISI reduced their target price on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.00.

Match Group Profile

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.