Mackenzie Financial Corp Purchases 57,902 Shares of Match Group Inc. $MTCH

Mackenzie Financial Corp boosted its position in Match Group Inc. (NASDAQ:MTCH) by 74.5% in the 2nd quarter, Holdings Channel reports. The firm owned 135,598 shares of the technology company’s stock after buying an additional 57,902 shares during the quarter. Mackenzie Financial Corp’s holdings in Match Group were worth $4,189,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Match Group by 56.0% in the second 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. Parallel Advisors LLC grew its position in Match Group by 18.5% in the 2nd 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 during the last quarter. Exencial Wealth Advisors LLC increased its stake in Match Group by 2.8% in the second quarter. Exencial Wealth Advisors LLC now owns 16,159 shares of the technology company’s stock worth $499,000 after purchasing an additional 439 shares during the period. Harbour Investments Inc. increased its stake in Match Group by 28.0% in the second quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after purchasing an additional 446 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its position in shares of Match Group by 8.7% during the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 6,250 shares of the technology company’s stock worth $193,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, CEO Spencer M. Rascoff purchased 14,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were acquired at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the acquisition, the chief executive officer owned 165,128 shares of the company’s stock, valued at $5,257,675.52. The trade was a 9.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Susquehanna upped their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Truist Financial dropped their target price on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Morgan Stanley reduced their price objective on Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.00.

Match Group Stock Performance

Shares of MTCH opened at $33.88 on Friday. The company has a 50 day moving average price of $33.01 and a 200-day moving average price of $33.62. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The stock has a market capitalization of $8.00 billion, a PE ratio of 15.83, a PEG ratio of 0.74 and a beta of 1.34.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, January 6th. Match Group’s dividend payout ratio (DPR) is 35.51%.

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.