Diversified Trust Co Buys New Shares in Match Group Inc. $MTCH

Diversified Trust Co bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,514 shares of the technology company’s stock, valued at approximately $510,000.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTCH. Evercore ISI upped 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. Susquehanna increased their price objective on shares of Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. UBS Group increased their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, June 27th. Five analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.44.

Match Group Stock Up 1.4%

Shares of NASDAQ:MTCH opened at $36.94 on Wednesday. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The company’s 50-day moving average price is $36.31 and its two-hundred day moving average price is $32.44. The firm has a market cap of $8.89 billion, a P/E ratio of 18.20, a P/E/G ratio of 0.72 and a beta of 1.36.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group’s dividend payout ratio (DPR) is 37.44%.

Insider Activity

In other news, CAO Philip D. Eigenmann sold 6,531 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 8,058 shares in the company, valued at $295,889.76. This trade represents a 60.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,454 shares of company stock valued at $907,839. 0.64% of the stock is currently owned by insiders.

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.