Pallas Capital Advisors LLC Has $1.88 Million Stock Position in Match Group Inc. $MTCH

Pallas Capital Advisors LLC boosted its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 287.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,219 shares of the technology company’s stock after buying an additional 39,469 shares during the period. Pallas Capital Advisors LLC’s holdings in Match Group were worth $1,880,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Match Group in the third quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of Match Group in the 3rd quarter valued at approximately $27,000. Employees Retirement System of Texas acquired a new position in Match Group in the 2nd quarter worth approximately $28,000. Caldwell Trust Co purchased a new position in Match Group during the 2nd quarter worth approximately $32,000. Finally, Quent Capital LLC acquired a new stake in Match Group during the 3rd quarter valued at $37,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Match Group

In other Match Group news, CEO Spencer M. Rascoff acquired 14,000 shares of Match Group stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of $31.84 per share, with a total value of $445,760.00. Following the purchase, the chief executive officer owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MTCH. UBS Group set a $34.00 target price on Match Group in a research report on Wednesday, February 4th. Wall Street Zen upgraded Match Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Wells Fargo & Company dropped their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Truist Financial decreased their price target on shares of Match Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $37.00 price objective on shares of Match Group in a research report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.86.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $30.50 on Tuesday. The business has a 50 day simple moving average of $31.94 and a 200 day simple moving average of $33.81. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.58 and a beta of 1.32.

Match Group Increases Dividend

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

Match Group 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.