Wealth Enhancement Advisory Services LLC Boosts Stock Position in Match Group Inc. $MTCH

Wealth Enhancement Advisory Services LLC raised its stake in Match Group Inc. (NASDAQ:MTCH) by 611.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,535 shares of the technology company’s stock after purchasing an additional 100,163 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Match Group were worth $3,857,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC boosted its holdings in Match Group by 3,228.4% during the third quarter. CWM LLC now owns 266,406 shares of the technology company’s stock worth $9,409,000 after buying an additional 258,402 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Match Group by 71.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock valued at $965,000 after acquiring an additional 12,987 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Match Group by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock worth $2,780,000 after acquiring an additional 10,269 shares in the last quarter. Meritage Portfolio Management purchased a new stake in shares of Match Group during the 2nd quarter worth approximately $693,000. Finally, Patton Fund Management Inc. acquired a new stake in shares of Match Group in the 2nd quarter worth approximately $226,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Up 0.3%

MTCH opened at $31.82 on Wednesday. The firm has a market cap of $7.51 billion, a P/E ratio of 14.89, a PEG ratio of 0.60 and a beta of 1.33. The business’s fifty day simple moving average is $32.54 and its 200 day simple moving average is $34.04. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on MTCH shares. Wolfe Research set a $43.00 price objective on Match Group and gave the stock an “outperform” rating in a report on Monday, January 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. Evercore ISI lowered 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 research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a report on Thursday, January 22nd. Finally, Raymond James Financial restated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Four analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.38.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average price of $31.84 per share, with a total value of $445,760.00. Following the completion of the transaction, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This represents a 9.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is currently owned by company insiders.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.