Oppenheimer & Co. Inc. Acquires New Stake in Match Group Inc. (NASDAQ:MTCH)

Oppenheimer & Co. Inc. acquired a new stake in Match Group Inc. (NASDAQ:MTCHFree Report) in the first quarter, Holdings Channel reports. The firm acquired 45,010 shares of the technology company’s stock, valued at approximately $1,404,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Starboard Value LP increased its holdings in Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock valued at $479,429,000 after purchasing an additional 5,100,824 shares during the period. Ameriprise Financial Inc. grew its holdings in Match Group by 24.2% during the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock worth $343,427,000 after acquiring an additional 2,042,677 shares during the period. Invesco Ltd. grew its holdings in Match Group by 25.3% during the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company’s stock worth $190,608,000 after acquiring an additional 1,174,889 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock worth $183,968,000 after acquiring an additional 2,952,470 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in Match Group by 11.0% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,467,257 shares of the technology company’s stock worth $178,834,000 after acquiring an additional 541,556 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Match Group

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the transaction, the chief executive officer now owns 137,478 shares in the company, valued at $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of recent analyst reports. Evercore ISI reiterated a “cautious” rating and set a $32.00 price target on shares of Match Group in a report on Wednesday, May 21st. Citigroup decreased their price target on Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Morgan Stanley decreased their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on Match Group from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Stifel Nicolaus decreased their price target on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.96.

Check Out Our Latest Analysis on Match Group

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $30.85 on Friday. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.69 and a beta of 1.35. The firm’s 50-day simple moving average is $30.10 and its 200 day simple moving average is $31.35.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group’s payout ratio is 37.62%.

Match Group Company Profile

(Free Report)

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.

Featured Stories

Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCHFree Report).

Institutional Ownership by Quarter for Match Group (NASDAQ:MTCH)

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.