Harbour Investments Inc. Boosts Holdings in Match Group Inc. $MTCH

Harbour Investments Inc. grew its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 28.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,039 shares of the technology company’s stock after purchasing an additional 446 shares during the period. Harbour Investments Inc.’s holdings in Match Group were worth $63,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in MTCH. Nuveen LLC purchased a new stake in shares of Match Group during the 1st quarter worth $142,281,000. Invesco Ltd. boosted its position in shares of Match Group by 64.2% during the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock worth $298,451,000 after purchasing an additional 3,738,509 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Match Group during the 1st quarter worth $77,783,000. Ameriprise Financial Inc. boosted its position in shares of Match Group by 17.4% during the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock worth $384,808,000 after purchasing an additional 1,822,362 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Match Group by 126.1% during the 1st quarter. LSV Asset Management now owns 1,679,575 shares of the technology company’s stock worth $52,403,000 after purchasing an additional 936,753 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Trading Down 1.3%

Shares of MTCH stock opened at $32.75 on Friday. The firm has a 50-day moving average price of $35.89 and a 200 day moving average price of $32.86. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 0.66 and a beta of 1.38.

Match Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI boosted their target price on shares of Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Morgan Stanley decreased their target price on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Susquehanna lifted their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, Match Group presently has an average rating of “Hold” and a consensus price target of $35.56.

Insider Transactions at Match Group

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 stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the sale, the chief accounting officer directly owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This represents a 21.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mcdaniel sold 5,423 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the sale, the director directly owned 21,926 shares in the company, valued at approximately $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,454 shares of company stock worth $907,839. 0.64% of the stock is currently owned by company insiders.

About Match Group

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.