Match Group Inc. (NASDAQ:MTCH) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 553,599 shares of the technology company’s stock after purchasing an additional 47,137 shares during the period. Envestnet Asset Management Inc. owned approximately 0.22% of Match Group worth $17,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Fulton Bank N.A. increased its position in Match Group by 3.9% during the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company’s stock worth $321,000 after acquiring an additional 388 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock worth $757,000 after acquiring an additional 415 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Match Group by 2.7% during the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company’s stock worth $546,000 after acquiring an additional 455 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Match Group by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company’s stock worth $2,445,000 after acquiring an additional 478 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Match Group by 2.9% in the 4th quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company’s stock valued at $677,000 after purchasing an additional 576 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Match Group from $35.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Wells Fargo & Company raised their price target on shares of Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, June 27th. Evercore ISI reissued a “cautious” rating and issued a $32.00 target price on shares of Match Group in a research note on Wednesday, May 21st. Finally, Citigroup reduced their price objective on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.96.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction on Friday, May 9th. The stock was purchased at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer owned 137,478 shares of the company’s stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.64% of the stock is currently owned by company insiders.

Match Group Trading Up 0.4%

Match Group stock opened at $32.35 on Friday. The company has a market capitalization of $8.10 billion, a P/E ratio of 16.01, a P/E/G ratio of 0.71 and a beta of 1.34. The firm’s fifty day simple moving average is $30.81 and its 200-day simple moving average is $31.35. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.84.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Match Group’s dividend payout ratio (DPR) is 37.62%.

Match Group Company Profile

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.