Punch & Associates Investment Management Inc. Boosts Stake in Match Group Inc. $MTCH

Punch & Associates Investment Management Inc. boosted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 366,995 shares of the technology company’s stock after buying an additional 44,437 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Match Group were worth $11,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MTCH. AQR Capital Management LLC lifted its holdings in Match Group by 1,163.7% during the third 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. Norges Bank acquired a new position in shares of Match Group during the fourth quarter worth $112,641,000. Holocene Advisors LP increased its position in shares of Match Group by 2,474.5% during the third quarter. Holocene Advisors LP now owns 2,741,573 shares of the technology company’s stock worth $96,832,000 after purchasing an additional 2,635,085 shares in the last quarter. State Street Corp increased its position in shares of Match Group by 14.6% during the third quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after purchasing an additional 2,461,025 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Match Group by 58.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,997,395 shares of the technology company’s stock worth $96,786,000 after purchasing an additional 1,111,419 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

NASDAQ MTCH opened at $36.52 on Wednesday. The stock’s fifty day moving average price is $35.37 and its 200 day moving average price is $33.00. Match Group Inc. has a 1 year low of $28.81 and a 1 year high of $39.20. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.57 and a beta of 1.33.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be given a $0.20 dividend. 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 presently 30.53%.

Insider Activity

In related news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director directly owned 16,218 shares of the company’s stock, valued at $582,874.92. This represents a 24.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Match Group from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Royal Bank Of Canada upped their price target on Match Group from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price objective 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. Morgan Stanley increased their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $43.00 target price on shares of Match Group in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.07.

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.