Punch & Associates Investment Management Inc. Increases Position in Match Group Inc. $MTCH

Punch & Associates Investment Management Inc. raised its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 366,995 shares of the technology company’s stock after buying an additional 44,437 shares during the period. Punch & Associates Investment Management Inc. owned about 0.16% of Match Group worth $11,850,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTCH. Woodline Partners LP purchased a new position in shares of Match Group during the first quarter valued at approximately $662,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Match Group by 20.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after buying an additional 891 shares during the period. First Trust Advisors LP boosted its holdings in shares of Match Group by 45.9% in the second 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 period. Amundi boosted its holdings in shares of Match Group by 1,477.6% in the second 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 period. Finally, Cresset Asset Management LLC purchased a new stake in shares of Match Group in the second quarter valued at approximately $298,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $36.52 on Wednesday. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.57 and a beta of 1.33. The stock has a 50 day moving average price of $35.37 and a 200 day moving average price of $33.00. Match Group Inc. has a 52-week low of $28.81 and a 52-week high of $39.20.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. Match Group’s dividend payout ratio is currently 30.53%.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research reports. Royal Bank Of Canada boosted their price target on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price target on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. TD Cowen boosted their price target on Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Piper Sandler set a $51.00 price target on Match Group in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Match Group has an average rating of “Hold” and a consensus target price of $41.07.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction on Friday, May 8th. The stock was 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 in the company, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by corporate insiders.

About Match Group

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.