First Manhattan CO. LLC. Boosts Position in Match Group Inc. $MTCH

First Manhattan CO. LLC. grew its position in shares of Match Group Inc. (NASDAQ:MTCH) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,557,506 shares of the technology company’s stock after purchasing an additional 68,649 shares during the period. First Manhattan CO. LLC. owned approximately 1.51% of Match Group worth $114,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after purchasing an additional 2,461,025 shares during the period. Ameriprise Financial Inc. grew its position in shares of Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Match Group by 32.8% during the fourth quarter. AQR Capital Management LLC now owns 8,149,868 shares of the technology company’s stock worth $261,692,000 after buying an additional 2,011,970 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Match Group by 2.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,494,679 shares of the technology company’s stock worth $242,003,000 after buying an additional 196,191 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Match Group by 4.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 6,965,319 shares of the technology company’s stock worth $224,910,000 after buying an additional 327,159 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Match Group stock opened at $35.31 on Thursday. The company has a market cap of $8.24 billion, a PE ratio of 13.48, a P/E/G ratio of 0.58 and a beta of 1.33. The company has a fifty day moving average price of $35.43 and a two-hundred day moving average price of $33.02. Match Group Inc. has a 12 month low of $28.81 and a 12 month high of $39.20.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s payout ratio is currently 30.53%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTCH. The Goldman Sachs Group reissued a “buy” rating and set a $43.00 price target on shares of Match Group in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a report on Sunday, April 26th. Finally, Truist Financial set a $37.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.07.

Insider Transactions at Match Group

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

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.