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

Permit Capital LLC lifted its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 292,000 shares of the technology company’s stock after purchasing an additional 47,000 shares during the quarter. Match Group comprises approximately 2.9% of Permit Capital LLC’s investment portfolio, making the stock its 11th biggest position. Permit Capital LLC owned 0.12% of Match Group worth $9,020,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stratos Wealth Partners LTD. grew its holdings in shares of Match Group by 5.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company’s stock worth $614,000 after purchasing an additional 939 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Match Group by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock worth $2,780,000 after purchasing an additional 10,269 shares during the period. Patton Fund Management Inc. purchased a new position in shares of Match Group during the 2nd quarter worth $226,000. Meritage Portfolio Management purchased a new position in shares of Match Group during the 2nd quarter worth $693,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Match Group by 9.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company’s stock valued at $17,272,000 after acquiring an additional 47,137 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Susquehanna raised their target price on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Wells Fargo & Company lowered their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Evercore ISI lowered their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.50.

Insider Activity

In other Match Group news, CAO Philip D. Eigenmann sold 6,531 shares of Match Group stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the transaction, the chief accounting officer owned 23,240 shares of the company’s stock, valued at $871,964.80. The trade was a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director directly owned 21,926 shares in the company, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.64% of the company’s stock.

Match Group Stock Performance

Shares of MTCH opened at $33.19 on Thursday. The stock has a 50-day simple moving average of $34.99 and a 200-day simple moving average of $33.17. The stock has a market capitalization of $7.99 billion, a PE ratio of 16.35, a PEG ratio of 0.63 and a beta of 1.41. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20.

Match Group Announces Dividend

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

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.