Arrowstreet Capital Limited Partnership Decreases Stake in Match Group Inc. $MTCH

Arrowstreet Capital Limited Partnership trimmed its position in Match Group Inc. (NASDAQ:MTCH) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,287,542 shares of the technology company’s stock after selling 90,770 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.91% of Match Group worth $225,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Match Group in the first quarter valued at $142,281,000. Norges Bank purchased a new position in Match Group in the second quarter valued at about $134,429,000. Invesco Ltd. boosted its position in Match Group by 64.2% during the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock worth $298,451,000 after purchasing an additional 3,738,509 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in Match Group by 15,523.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after acquiring an additional 3,465,877 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Match Group in the 1st quarter valued at approximately $77,783,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTCH. JPMorgan Chase & Co. upped their target price on Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Wells Fargo & Company dropped their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Susquehanna boosted their target price 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. Truist Financial decreased their price objective on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Finally, Evercore ISI reduced their price objective on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff purchased 14,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer owned 165,128 shares of the company’s stock, valued at $5,257,675.52. The trade was a 9.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by corporate insiders.

Match Group Stock Down 0.1%

Shares of NASDAQ MTCH opened at $33.70 on Wednesday. The business has a fifty day simple moving average of $33.10 and a 200-day simple moving average of $33.62. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.63 and a beta of 1.41. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Match Group’s dividend payout ratio (DPR) is presently 35.51%.

Match Group 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.