Bank of New York Mellon Corp Buys 1,111,419 Shares of Match Group Inc. $MTCH

Bank of New York Mellon Corp lifted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 58.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,997,395 shares of the technology company’s stock after purchasing an additional 1,111,419 shares during the quarter. Bank of New York Mellon Corp’s holdings in Match Group were worth $96,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management increased its holdings in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock valued at $28,000 after purchasing an additional 848 shares during the period. Advisory Services Network LLC acquired a new stake in Match Group during the 3rd quarter valued at approximately $28,000. Rossby Financial LCC raised its stake in Match Group by 126.5% during the third quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after buying an additional 506 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Match Group in the 4th quarter worth about $38,000. Finally, Root Financial Partners LLC increased its holdings in Match Group by 63.9% in the fourth quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company’s stock worth $40,000 after purchasing an additional 489 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTCH. Morgan Stanley boosted their price objective on Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price target on shares of Match Group from $30.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on Match Group in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.07.

Match Group Stock Performance

Shares of MTCH stock opened at $34.19 on Tuesday. The business’s 50 day moving average price is $34.84 and its 200-day moving average price is $32.88. 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 market cap of $7.98 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.55 and a beta of 1.33.

Match Group Announces Dividend

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

Insider Buying and Selling

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the company’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 transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

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.