Merit Financial Group LLC Invests $1.62 Million in Match Group Inc. $MTCH

Merit Financial Group LLC bought a new stake in shares of Match Group Inc. (NASDAQ:MTCH) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 45,896 shares of the technology company’s stock, valued at approximately $1,621,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in Match Group in the 3rd quarter worth $25,000. Employees Retirement System of Texas bought a new stake in shares of Match Group in the second quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB grew its position in 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 in the last quarter. Caldwell Trust Co bought a new stake in shares of Match Group in the 2nd quarter worth approximately $32,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Match Group in the 2nd quarter worth approximately $63,000. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

Shares of MTCH opened at $31.74 on Monday. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.60 and a beta of 1.33. The stock has a fifty day moving average price of $32.76 and a two-hundred day moving average price of $34.03. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be issued a dividend of $0.19 per share. 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 2.4%. Match Group’s dividend payout ratio is currently 35.51%.

Analyst Ratings Changes

Several research analysts recently commented on MTCH shares. Wells Fargo & Company reduced their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Morgan Stanley cut 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 note on Monday, October 20th. Wall Street Zen cut Match Group from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Match Group in a report on Wednesday, December 10th. Three investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.42.

Insider Buying and Selling

In related news, CEO Spencer M. Rascoff acquired 14,000 shares of the stock in a transaction on Thursday, November 20th. The stock was purchased at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Match Group Profile

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.