Spencer Rascoff Acquires 14,000 Shares of Match Group (NASDAQ:MTCH) Stock

Match Group Inc. (NASDAQ:MTCH) CEO Spencer Rascoff acquired 14,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was purchased at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the transaction, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Match Group Trading Down 0.8%

Shares of MTCH stock traded down $0.26 during trading hours on Thursday, reaching $31.25. 3,451,390 shares of the company’s stock were exchanged, compared to its average volume of 4,522,805. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The stock’s 50 day moving average is $33.94 and its 200-day moving average is $33.34. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 0.63 and a beta of 1.41.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. Match Group’s dividend payout ratio is presently 35.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. Morgan Stanley dropped their price target on Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. JPMorgan Chase & Co. lifted their price objective on shares of Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Truist Financial reduced their price objective on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Hedge Funds Weigh In On Match Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caerus Investment Advisors LLC acquired a new stake in Match Group during the 3rd quarter worth $652,000. Captrust Financial Advisors lifted its stake in shares of Match Group by 56.1% in the third quarter. Captrust Financial Advisors now owns 118,825 shares of the technology company’s stock worth $4,197,000 after buying an additional 42,685 shares in the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Match Group in the third quarter worth about $259,000. Danske Bank A S acquired a new position in Match Group during the third quarter worth about $10,983,000. Finally, Advisory Services Network LLC purchased a new stake in Match Group during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 94.05% 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.