Arrowstreet Capital Limited Partnership Has $225.11 Million Stake in Match Group Inc. $MTCH

Arrowstreet Capital Limited Partnership reduced its stake in Match Group Inc. (NASDAQ:MTCH) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,287,542 shares of the technology company’s stock after selling 90,770 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Match Group were worth $225,112,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its holdings 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 buying an additional 362 shares during the last quarter. Parallel Advisors LLC grew its position in 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 acquiring an additional 390 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 valued at $499,000 after purchasing an additional 439 shares during the last quarter. Harbour Investments Inc. grew its position in Match Group by 28.0% during the 2nd quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after acquiring an additional 446 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in shares of Match Group by 8.7% in the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 6,250 shares of the technology company’s stock valued at $193,000 after buying an additional 500 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Performance

Match Group stock opened at $33.70 on Wednesday. The stock has a fifty day moving average of $33.10 and a 200-day moving average of $33.62. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The stock has a market capitalization of $7.96 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.63 and a beta of 1.41.

Match Group Dividend Announcement

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

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff purchased 14,000 shares of Match Group stock in a transaction dated Thursday, November 20th. The shares were bought at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the acquisition, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MTCH. Morgan Stanley lowered their price target on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Wells Fargo & Company lowered their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Susquehanna increased their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Truist Financial reduced their price target on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

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.