Jupiter Asset Management Ltd. Acquires 515,750 Shares of Match Group Inc. $MTCH

Jupiter Asset Management Ltd. boosted its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 14.9% during the 4th quarter, Holdings Channel reports. The fund owned 3,971,583 shares of the technology company’s stock after buying an additional 515,750 shares during the period. Match Group comprises about 1.0% of Jupiter Asset Management Ltd.’s portfolio, making the stock its 17th largest position. Jupiter Asset Management Ltd.’s holdings in Match Group were worth $128,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in Match Group during the 4th quarter worth about $3,246,000. Baker Avenue Asset Management LP boosted its holdings in shares of Match Group by 29.5% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,685 shares of the technology company’s stock valued at $313,000 after buying an additional 2,208 shares in the last quarter. Poinciana Advisors Group LLC bought a new stake in shares of Match Group in the 4th quarter valued at about $247,000. AlphaQuest LLC boosted its holdings in shares of Match Group by 330.0% in the 4th quarter. AlphaQuest LLC now owns 98,063 shares of the technology company’s stock valued at $3,166,000 after buying an additional 75,258 shares in the last quarter. Finally, Summitry LLC bought a new stake in shares of Match Group in the 4th quarter valued at about $253,000. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTCH. Truist Financial set a $37.00 price target on shares of Match Group in a report on Wednesday, May 6th. TD Cowen raised 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. Wells Fargo & Company raised their price target on shares of Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley lifted their target price on shares of Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note 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 stock has an average rating of “Hold” and an average target price of $41.07.

Match Group Stock Performance

Shares of MTCH stock opened at $36.36 on Friday. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $39.20. The firm has a market capitalization of $8.48 billion, a PE ratio of 13.88, a P/E/G ratio of 0.58 and a beta of 1.36. The stock’s 50-day simple moving average is $34.24 and its 200-day simple moving average is $32.75.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.2%. Match Group’s dividend payout ratio (DPR) is currently 30.53%.

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 sale, the director owned 16,218 shares in the company, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is 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.