Patton Albertson Miller Group LLC Raises Stake in Match Group Inc. $MTCH

Patton Albertson Miller Group LLC increased its stake in Match Group Inc. (NASDAQ:MTCH) by 4.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 87,076 shares of the technology company’s stock after buying an additional 3,820 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Match Group were worth $2,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in Match Group by 17.4% in the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock valued at $384,808,000 after acquiring an additional 1,822,362 shares during the period. Invesco Ltd. raised its stake in Match Group by 64.2% in the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock valued at $298,451,000 after acquiring an additional 3,738,509 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Match Group by 10.0% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company’s stock valued at $173,880,000 after acquiring an additional 506,763 shares during the period. Nuveen LLC bought a new stake in Match Group in the 1st quarter valued at about $142,281,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Match Group by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,765,162 shares of the technology company’s stock valued at $86,273,000 after acquiring an additional 97,255 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Philip D. Eigenmann sold 6,531 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer directly owned 23,240 shares in the company, valued at approximately $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mcdaniel sold 5,423 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director directly owned 21,926 shares of the company’s stock, valued at approximately $823,979.08. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,454 shares of company stock worth $907,839. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, June 27th. UBS Group upped their price target on Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Susquehanna upped their price target on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Finally, Evercore ISI upped their price target on Match Group from $32.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.44.

Match Group Trading Up 1.0%

MTCH stock opened at $36.24 on Friday. The company’s 50 day moving average is $36.54 and its 200 day moving average is $32.54. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, October 3rd. Match Group’s dividend payout ratio is 37.44%.

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.