DNB Asset Management AS Purchases 849,472 Shares of Match Group Inc. $MTCH

DNB Asset Management AS increased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 32.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,431,061 shares of the technology company’s stock after buying an additional 849,472 shares during the period. DNB Asset Management AS owned 1.45% of Match Group worth $110,789,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after buying an additional 2,461,025 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Match Group by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares during the period. LSV Asset Management boosted its holdings in shares of Match Group by 37.8% during the 3rd quarter. LSV Asset Management now owns 4,770,780 shares of the technology company’s stock worth $168,504,000 after buying an additional 1,307,949 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Match Group by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,125,373 shares of the technology company’s stock worth $110,403,000 after buying an additional 105,406 shares during the period. 94.05% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the completion of the transaction, the director owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research reports. TD Cowen increased their price target on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a report on Monday, May 4th. Piper Sandler set a $51.00 price target on shares of Match Group in a report on Wednesday, May 6th. Morgan Stanley increased their price target on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Truist Financial set a $37.00 price target on shares of Match Group in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price target on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $41.07.

Match Group Price Performance

Shares of Match Group stock opened at $35.40 on Friday. Match Group Inc. has a fifty-two week low of $28.80 and a fifty-two week high of $39.20. The firm has a fifty day moving average price of $33.32 and a two-hundred day moving average price of $32.54. The company has a market cap of $8.26 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.36.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Match Group’s dividend payout ratio is currently 30.53%.

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.