DekaBank Deutsche Girozentrale Grows Stake in Match Group Inc. $MTCH

DekaBank Deutsche Girozentrale boosted its position in Match Group Inc. (NASDAQ:MTCH) by 11.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 156,451 shares of the technology company’s stock after buying an additional 16,361 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Match Group were worth $4,753,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MTCH. Nuveen LLC purchased a new position in Match Group in the 1st quarter valued at approximately $142,281,000. Invesco Ltd. increased 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 purchasing an additional 3,738,509 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Match Group in the 1st quarter valued at approximately $77,783,000. Ameriprise Financial Inc. increased 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 purchasing an additional 1,822,362 shares in the last quarter. Finally, LSV Asset Management increased its stake in Match Group by 126.1% in the 1st quarter. LSV Asset Management now owns 1,679,575 shares of the technology company’s stock valued at $52,403,000 after purchasing an additional 936,753 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTCH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. UBS Group raised their price target on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Susquehanna raised their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.56.

Match Group Stock Performance

Match Group stock opened at $32.62 on Friday. The stock has a fifty day moving average of $35.78 and a two-hundred day moving average of $32.90. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.65 and a beta of 1.38. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s payout ratio is currently 37.44%.

Insider Activity

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 completion of the sale, the director owned 21,926 shares of the company’s stock, valued at $823,979.08. The trade was a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of Match Group stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 24,454 shares of company stock valued at $907,839 over the last quarter. Company insiders own 0.64% of the company’s stock.

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.