Great Lakes Advisors LLC Takes Position in Match Group Inc. $MTCH

Great Lakes Advisors LLC acquired a new position in Match Group Inc. (NASDAQ:MTCH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 71,288 shares of the technology company’s stock, valued at approximately $2,518,000.

Several other large investors also recently added to or reduced their stakes in MTCH. Harbor Capital Advisors Inc. purchased a new position in shares of Match Group during the 3rd quarter worth $25,000. Root Financial Partners LLC bought a new position in Match Group in the 3rd quarter worth $27,000. Employees Retirement System of Texas purchased a new position in Match Group during the second quarter valued at $28,000. Caldwell Trust Co bought a new stake in Match Group during the second quarter valued at about $32,000. Finally, Quent Capital LLC purchased a new stake in Match Group in the third quarter worth about $37,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Up 0.4%

Shares of MTCH stock opened at $31.15 on Friday. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.58 and a beta of 1.33. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The stock’s 50-day moving average price is $32.51 and its 200-day moving average price is $34.01.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Match Group’s dividend payout ratio (DPR) is 35.51%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Match Group in a research report on Wednesday, December 10th. UBS Group set a $37.00 target price on shares of Match Group in a research note on Tuesday, January 13th. Finally, Morgan Stanley upped their target price on shares of Match Group from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus price target of $36.38.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff purchased 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer directly owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Match Group 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.