Mirae Asset Global Investments Co. Ltd. Has $1.06 Million Stock Position in Match Group Inc. $MTCH

Mirae Asset Global Investments Co. Ltd. increased its stake in Match Group Inc. (NASDAQ:MTCH) by 3.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 34,345 shares of the technology company’s stock after purchasing an additional 1,213 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Match Group were worth $1,061,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its position in Match Group by 56.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after buying an additional 362 shares during the period. NBC Securities Inc. bought a new position in shares of Match Group during the first quarter worth about $37,000. SVB Wealth LLC acquired a new position in Match Group in the first quarter valued at approximately $49,000. Summit Securities Group LLC bought a new stake in shares of Match Group during the first quarter valued at approximately $54,000. Finally, Parallel Advisors LLC increased its holdings in shares of Match Group by 18.5% during the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock valued at $77,000 after acquiring an additional 390 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Performance

MTCH opened at $32.48 on Friday. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 0.66 and a beta of 1.38. The stock’s 50 day moving average price is $36.59 and its 200-day moving average price is $32.73. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.3%. Match Group’s dividend payout ratio is 37.44%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent research reports. 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. JPMorgan Chase & Co. lifted their price objective on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Susquehanna raised their target price on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, June 27th. Five equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.44.

Insider Buying and Selling

In other news, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction 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 transaction, the director directly owned 21,926 shares in the company, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares of the company’s stock, valued at $295,889.76. The trade was a 60.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,454 shares of company stock valued at $907,839 over the last quarter. 0.64% of the stock is owned by corporate insiders.

Match Group 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.