Match Group Inc. $MTCH Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 346.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 233,630 shares of the technology company’s stock after buying an additional 181,317 shares during the period. Thrivent Financial for Lutherans owned 0.10% of Match Group worth $8,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC increased its position in shares of Match Group by 3,228.4% during the third quarter. CWM LLC now owns 266,406 shares of the technology company’s stock valued at $9,409,000 after acquiring an additional 258,402 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Match Group by 611.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 116,535 shares of the technology company’s stock worth $3,857,000 after acquiring an additional 100,163 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Match Group by 71.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock worth $965,000 after purchasing an additional 12,987 shares during the period. Meritage Portfolio Management acquired a new stake in Match Group in the 2nd quarter valued at approximately $693,000. Finally, Capital Fund Management S.A. raised its position in Match Group by 507.1% in the second quarter. Capital Fund Management S.A. now owns 443,862 shares of the technology company’s stock valued at $13,711,000 after purchasing an additional 370,745 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTCH has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group set a $34.00 target price on Match Group in a research note on Wednesday. Wells Fargo & Company lowered their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Evercore ISI dropped their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.86.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $30.85 on Friday. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.57 and a beta of 1.32. The stock’s 50-day moving average is $32.30 and its two-hundred day moving average is $33.94. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20.

Match Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be paid a $0.20 dividend. This is an increase from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, April 7th. Match Group’s payout ratio is presently 31.93%.

Insider Transactions at Match Group

In other news, CEO Spencer M. Rascoff purchased 14,000 shares of the stock in a transaction on Thursday, November 20th. The stock was bought at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the acquisition, the chief executive officer directly owned 165,128 shares of the company’s stock, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by corporate 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.