Vident Advisory LLC Purchases 25,459 Shares of Match Group, Inc. (NASDAQ:MTCH)

Vident Advisory LLC grew its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 127.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,370 shares of the technology company’s stock after acquiring an additional 25,459 shares during the period. Vident Advisory LLC’s holdings in Match Group were worth $1,484,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MTCH. Nisa Investment Advisors LLC raised its position in Match Group by 94.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company’s stock valued at $1,947,000 after purchasing an additional 28,884 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after buying an additional 939,078 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock valued at $87,267,000 after acquiring an additional 69,947 shares in the last quarter. Truist Financial Corp purchased a new stake in Match Group in the fourth quarter worth $250,000. Finally, AustralianSuper Pty Ltd boosted its holdings in Match Group by 149.4% in the fourth quarter. AustralianSuper Pty Ltd now owns 733,536 shares of the technology company’s stock valued at $23,994,000 after acquiring an additional 439,432 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Performance

NASDAQ:MTCH opened at $29.45 on Friday. The firm has a market cap of $7.38 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84. The firm has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $31.65.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group’s payout ratio is 37.62%.

Wall Street Analyst Weigh In

MTCH has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stifel Nicolaus cut their price objective on Match Group from $35.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. UBS Group decreased their target price on Match Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their target price on Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $35.91.

Insider Activity at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Spencer M. Rascoff purchased 70,885 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the purchase, the chief executive officer now directly owns 137,478 shares of the company’s stock, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.64% of the stock is owned by insiders.

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.