Mirae Asset Global Investments Co. Ltd. Purchases 2,429 Shares of Match Group Inc. (NASDAQ:MTCH)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Match Group Inc. (NASDAQ:MTCH) by 7.9% in the first quarter, Holdings Channel reports. The fund owned 33,132 shares of the technology company’s stock after buying an additional 2,429 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Match Group were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Match Group during the 4th quarter valued at $704,000. SBI Securities Co. Ltd. purchased a new stake in Match Group during the 4th quarter valued at $116,000. Charles Schwab Investment Management Inc. raised its holdings in Match Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company’s stock valued at $87,267,000 after buying an additional 69,947 shares during the period. Assetmark Inc. raised its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after buying an additional 378 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Match Group during the 4th quarter valued at $4,951,000. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Spencer M. Rascoff purchased 70,885 shares of the company’s stock in a transaction dated 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 owned 137,478 shares of the company’s stock, valued at $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTCH shares. Wells Fargo & Company increased their price target on Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Bank of America decreased their price target on Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Citigroup decreased their price target on Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. UBS Group decreased their price target on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price target on Match Group from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Match Group has a consensus rating of “Hold” and a consensus price target of $35.96.

Match Group Trading Up 0.2%

MTCH opened at $32.52 on Friday. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $38.84. The business’s fifty day simple moving average is $30.34 and its 200-day simple moving average is $31.38. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.72 and a beta of 1.34.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group’s payout ratio is 37.62%.

Match Group Company Profile

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.