Rakuten Investment Management Inc. Invests $1.27 Million in Match Group Inc. $MTCH

Rakuten Investment Management Inc. bought a new stake in Match Group Inc. (NASDAQ:MTCH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 36,004 shares of the technology company’s stock, valued at approximately $1,272,000.

Other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in shares of Match Group in the 3rd quarter worth about $25,000. Root Financial Partners LLC bought a new stake in shares of Match Group during the third quarter worth $27,000. Employees Retirement System of Texas bought a new stake in Match Group during the 2nd quarter worth about $28,000. Caldwell Trust Co bought a new stake in shares of Match Group during the second quarter worth approximately $32,000. Finally, Quent Capital LLC bought a new stake in shares of Match Group during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Trading Down 1.4%

Shares of MTCH stock opened at $31.08 on Friday. The business’s 50-day moving average price is $32.52 and its 200-day moving average price is $34.05. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.58 and a beta of 1.33.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th were paid a $0.19 dividend. The ex-dividend date was Tuesday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.4%. Match Group’s dividend payout ratio (DPR) is 35.51%.

Insider Buying and Selling

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of the 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 purchase, the chief executive officer directly 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Truist Financial lowered their price target on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley upped their target price on shares of Match Group from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Wall Street Zen downgraded Match Group from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.38.

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.