AXQ Capital LP Acquires New Stake in Match Group Inc. $MTCH

AXQ Capital LP bought a new position in shares of Match Group Inc. (NASDAQ:MTCH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 9,886 shares of the technology company’s stock, valued at approximately $305,000.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Match Group by 56.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after purchasing an additional 362 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Match Group by 18.5% in the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock valued at $77,000 after purchasing an additional 390 shares in the last quarter. Assetmark Inc. increased its stake in Match Group by 14.1% during the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company’s stock worth $108,000 after buying an additional 429 shares during the period. Exencial Wealth Advisors LLC lifted its holdings in Match Group by 2.8% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 16,159 shares of the technology company’s stock worth $499,000 after buying an additional 439 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in Match Group by 28.0% in the 2nd quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock valued at $63,000 after buying an additional 446 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MTCH shares. Evercore ISI cut their price objective on Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company cut their price target on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Susquehanna upped their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.00.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff bought 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the acquisition, the chief executive officer owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company’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 completion of the sale, the chief accounting officer directly owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.64% of the stock is currently owned by insiders.

Match Group Trading Up 0.9%

MTCH stock opened at $32.55 on Tuesday. The stock has a market cap of $7.68 billion, a P/E ratio of 16.03, a PEG ratio of 0.63 and a beta of 1.41. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The company’s 50 day moving average is $33.60 and its two-hundred day moving average is $33.42.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Match Group’s payout ratio is 35.51%.

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.