Permit Capital LLC Grows Holdings in Match Group Inc. $MTCH

Permit Capital LLC lifted its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 19.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 350,000 shares of the technology company’s stock after purchasing an additional 58,000 shares during the period. Match Group comprises about 3.5% of Permit Capital LLC’s investment portfolio, making the stock its 9th biggest position. Permit Capital LLC’s holdings in Match Group were worth $11,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MTCH. Woodline Partners LP bought a new position in shares of Match Group during the 1st quarter valued at $662,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after purchasing an additional 891 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after purchasing an additional 204,472 shares during the last quarter. Amundi grew its holdings in shares of Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after purchasing an additional 335,971 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new position in shares of Match Group during the 2nd quarter valued at $298,000. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.64% of the stock is owned by insiders.

Match Group Price Performance

Shares of MTCH opened at $34.42 on Monday. The stock has a market capitalization of $8.03 billion, a P/E ratio of 13.14, a PEG ratio of 0.55 and a beta of 1.33. The firm has a fifty day simple moving average of $34.77 and a two-hundred day simple moving average of $32.86. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $39.20.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 annualized dividend and a yield of 2.3%. Match Group’s dividend payout ratio is presently 30.53%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. TD Cowen increased their target price on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Truist Financial set a $37.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Finally, Royal Bank Of Canada increased their price target on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.07.

Match Group Company 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.