Rafferty Asset Management LLC Has $713,000 Stake in Match Group, Inc. (NASDAQ:MTCH)

Rafferty Asset Management LLC increased its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,798 shares of the technology company’s stock after buying an additional 1,891 shares during the period. Rafferty Asset Management LLC’s holdings in Match Group were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MTCH. Mawer Investment Management Ltd. increased its holdings in Match Group by 716.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company’s stock worth $171,889,000 after buying an additional 4,611,598 shares during the last quarter. Norges Bank acquired a new position in Match Group during the fourth quarter worth $112,176,000. Arrowstreet Capital Limited Partnership increased its holdings in Match Group by 110.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock worth $183,968,000 after buying an additional 2,952,470 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock valued at $343,427,000 after purchasing an additional 2,042,677 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in shares of Match Group by 4,659.2% in the fourth quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company’s stock valued at $62,643,000 after purchasing an additional 1,874,853 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of Match Group stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the purchase, the chief executive officer now owns 137,478 shares in the company, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

Match Group Stock Up 0.4%

MTCH opened at $29.45 on Friday. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The company has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $31.65. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 0.82 and a beta of 1.42.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.58%. Match Group’s dividend payout ratio is 37.62%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Evercore ISI reiterated an “in-line” rating and issued a $32.00 price objective on shares of Match Group in a report on Wednesday. Wall Street Zen downgraded shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.91.

Match Group Company 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.