Pallas Capital Advisors LLC Acquires 2,851 Shares of Match Group, Inc. (NASDAQ:MTCH)

Pallas Capital Advisors LLC grew its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 21.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,350 shares of the technology company’s stock after acquiring an additional 2,851 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Match Group were worth $510,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Starboard Value LP raised its holdings in shares of Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock valued at $479,429,000 after buying an additional 5,100,824 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Match Group by 24.2% during the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock valued at $343,427,000 after buying an additional 2,042,677 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Match Group by 25.3% during the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company’s stock valued at $190,608,000 after buying an additional 1,174,889 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock valued at $183,968,000 after buying an additional 2,952,470 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in shares of Match Group by 11.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,467,257 shares of the technology company’s stock valued at $178,834,000 after buying an additional 541,556 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MTCH. Bank of America decreased their price objective on Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Morgan Stanley decreased their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company decreased their price objective on Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. UBS Group decreased their price target on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Evercore ISI reaffirmed a “cautious” rating and issued a $32.00 price target on shares of Match Group in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $35.91.

Match Group Stock Down 2.8%

Match Group stock opened at $30.66 on Friday. Match Group, Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. The stock has a 50-day moving average price of $29.63 and a 200 day moving average price of $31.52.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group’s dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff purchased 70,885 shares of the stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer now directly owns 137,478 shares of the company’s stock, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.64% of the stock is owned by company insiders.

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.