Merit Financial Group LLC Buys Shares of 45,896 Match Group Inc. $MTCH

Merit Financial Group LLC purchased a new stake in shares of Match Group Inc. (NASDAQ:MTCH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 45,896 shares of the technology company’s stock, valued at approximately $1,621,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Match Group in the third quarter valued at about $25,000. Employees Retirement System of Texas acquired a new stake in shares of Match Group during the 2nd quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Match Group by 56.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock valued at $31,000 after buying an additional 362 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Match Group in the 2nd quarter valued at approximately $32,000. Finally, Harbour Investments Inc. increased its holdings in Match Group by 28.0% in the second quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after buying an additional 446 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other Match Group news, CEO Spencer M. Rascoff acquired 14,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of $31.84 per share, with a total value of $445,760.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.64% of the company’s stock.

Match Group Trading Down 1.7%

NASDAQ:MTCH opened at $31.74 on Monday. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The firm’s fifty day simple moving average is $32.76 and its 200 day simple moving average is $34.03. The firm has a market capitalization of $7.49 billion, a PE ratio of 14.83, a PEG ratio of 0.60 and a beta of 1.33.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, January 6th. Match Group’s dividend payout ratio (DPR) is currently 35.51%.

Analyst Ratings Changes

A number of analysts have issued reports on MTCH shares. Wells Fargo & Company reduced their target price on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Match Group in a research note on Wednesday, December 10th. Evercore ISI lowered their target price on shares of 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. Finally, Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Three equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, Match Group currently has an average rating of “Hold” and a consensus price target of $35.42.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.