Minneapolis Portfolio Management Group LLC Purchases 13,988 Shares of Match Group Inc. $MTCH

Minneapolis Portfolio Management Group LLC lifted its position in Match Group Inc. (NASDAQ:MTCH) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 731,767 shares of the technology company’s stock after purchasing an additional 13,988 shares during the quarter. Match Group comprises approximately 2.7% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 25th largest holding. Minneapolis Portfolio Management Group LLC owned approximately 0.31% of Match Group worth $23,629,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bollard Group LLC increased its holdings in shares of Match Group by 0.6% in the third quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock worth $1,938,000 after purchasing an additional 317 shares during the period. True Wealth Design LLC increased its holdings in shares of Match Group by 12.8% in the fourth quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock worth $91,000 after purchasing an additional 320 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Match Group by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock worth $133,000 after purchasing an additional 326 shares during the period. Bessemer Group Inc. increased its holdings in shares of Match Group by 2.8% in the third quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock worth $432,000 after purchasing an additional 333 shares during the period. Finally, Mather Group LLC. increased its stake in Match Group by 6.0% in the fourth quarter. Mather Group LLC. now owns 6,477 shares of the technology company’s stock valued at $209,000 after acquiring an additional 364 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

MTCH opened at $36.76 on Tuesday. The stock’s 50 day simple moving average is $34.46 and its 200 day simple moving average is $32.80. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.58 and a beta of 1.36. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $39.20.

Match Group Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s dividend payout ratio is 30.53%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MTCH shares. Citigroup raised their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Truist Financial set a $37.00 price target on Match Group in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Wells Fargo & Company upped their target price on Match Group from $30.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 price target on shares of Match Group in a research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.07.

Insider Activity at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.64% of the company’s stock.

About Match Group

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.