MassMutual Private Wealth & Trust FSB Acquires 362 Shares of Match Group Inc. $MTCH

MassMutual Private Wealth & Trust FSB boosted its position in Match Group Inc. (NASDAQ:MTCH) by 56.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,008 shares of the technology company’s stock after buying an additional 362 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Match Group were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTCH. Nuveen LLC acquired a new position in Match Group in the 1st quarter valued at $142,281,000. Invesco Ltd. grew its stake in Match Group by 64.2% in the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock valued at $298,451,000 after buying an additional 3,738,509 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Match Group in the 1st quarter valued at $77,783,000. Ameriprise Financial Inc. grew its stake in Match Group by 17.4% in the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock valued at $384,808,000 after buying an additional 1,822,362 shares during the last quarter. Finally, LSV Asset Management grew its stake in Match Group by 126.1% in the 1st quarter. LSV Asset Management now owns 1,679,575 shares of the technology company’s stock valued at $52,403,000 after buying an additional 936,753 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Down 0.2%

Shares of NASDAQ MTCH opened at $38.51 on Monday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a market cap of $9.27 billion, a PE ratio of 18.97, a P/E/G ratio of 0.76 and a beta of 1.36. The company has a 50-day moving average of $36.13 and a two-hundred day moving average of $32.38.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 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 2.0%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group’s payout ratio is 37.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTCH. Evercore ISI raised their target price on shares of Match Group from $32.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 6th. UBS Group raised their price target on shares of Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Susquehanna raised their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. 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 report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.44.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares of the company’s stock, valued at $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann Mcdaniel sold 5,423 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the sale, the director directly owned 21,926 shares of the company’s stock, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,454 shares of company stock valued at $907,839 over the last ninety days. Insiders own 0.64% of the company’s stock.

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.