Arrowstreet Capital Limited Partnership Acquires 196,191 Shares of Match Group Inc. $MTCH

Arrowstreet Capital Limited Partnership boosted its position in Match Group Inc. (NASDAQ:MTCH) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,494,679 shares of the technology company’s stock after acquiring an additional 196,191 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Match Group were worth $242,003,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MTCH. AQR Capital Management LLC lifted its position in shares of Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after purchasing an additional 5,652,174 shares during the period. Norges Bank purchased a new stake in shares of Match Group in the 4th quarter worth about $112,641,000. Holocene Advisors LP lifted its position in shares of Match Group by 2,474.5% in the 3rd quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock worth $96,832,000 after purchasing an additional 2,635,085 shares during the period. State Street Corp lifted its position in shares of Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Match Group by 58.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company’s stock worth $96,786,000 after purchasing an additional 1,111,419 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This trade represents a 24.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on MTCH shares. Wall Street Zen raised shares of Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Piper Sandler set a $51.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. UBS Group raised their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $43.00 target price on shares of Match Group in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.07.

Match Group Stock Performance

NASDAQ:MTCH opened at $34.89 on Monday. The firm has a market cap of $8.14 billion, a P/E ratio of 13.32, a P/E/G ratio of 0.56 and a beta of 1.33. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $39.20. The firm has a 50-day simple moving average of $35.18 and a two-hundred day simple moving average of $32.96.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, July 7th. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

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.