Match Group Inc. $MTCH Stock Position Increased by Permit Capital LLC

Permit Capital LLC lifted its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 19.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,000 shares of the technology company’s stock after buying an additional 58,000 shares during the quarter. Match Group comprises 3.5% of Permit Capital LLC’s investment portfolio, making the stock its 9th biggest position. Permit Capital LLC owned about 0.15% of Match Group worth $11,302,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management increased its holdings in Match Group by 6,523.1% during the 4th quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after acquiring an additional 848 shares during the period. Advisory Services Network LLC bought a new stake in Match Group during the 3rd quarter worth approximately $28,000. Rossby Financial LCC increased its holdings in Match Group by 126.5% during the 3rd quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock worth $31,000 after acquiring an additional 506 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Match Group during the 4th quarter worth approximately $38,000. Finally, Root Financial Partners LLC increased its holdings in Match Group by 63.9% during the 4th quarter. Root Financial Partners LLC now owns 1,254 shares of the technology company’s stock worth $40,000 after acquiring an additional 489 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTCH has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada upped their target price on shares of Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler set a $51.00 target price on shares of Match Group in a report on Wednesday, May 6th. Finally, Truist Financial set a $37.00 target price on shares of Match Group in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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 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 transaction, the director owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by insiders.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $34.42 on Monday. The company’s fifty day moving average price is $34.77 and its 200-day moving average price is $32.86. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.55 and a beta of 1.33. Match Group Inc. has a one year low of $28.81 and a one year high of $39.20.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend 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 presently 30.53%.

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.