Norges Bank Takes Position in Match Group Inc. $MTCH

Norges Bank purchased a new stake in Match Group Inc. (NASDAQ:MTCH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,488,428 shares of the technology company’s stock, valued at approximately $112,641,000. Norges Bank owned 1.48% of Match Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Bollard Group LLC boosted its holdings in shares of Match Group by 0.6% in the third quarter. Bollard Group LLC now owns 54,875 shares of the technology company’s stock valued at $1,938,000 after purchasing an additional 317 shares during the period. True Wealth Design LLC boosted its holdings in shares of Match Group by 12.8% in the fourth quarter. True Wealth Design LLC now owns 2,813 shares of the technology company’s stock valued at $91,000 after purchasing an additional 320 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Match Group by 8.2% in the second quarter. Smartleaf Asset Management LLC now owns 4,307 shares of the technology company’s stock valued at $133,000 after purchasing an additional 326 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Match Group by 2.8% in the third quarter. Bessemer Group Inc. now owns 12,281 shares of the technology company’s stock valued at $432,000 after purchasing an additional 333 shares during the period. Finally, Mather Group LLC. boosted its holdings in shares of Match Group by 6.0% in the fourth quarter. Mather Group LLC. now owns 6,477 shares of the technology company’s stock valued at $209,000 after purchasing an additional 364 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MTCH shares. Royal Bank Of Canada boosted their price target on Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Truist Financial set a $37.00 price target on Match Group in a report on Wednesday, May 6th. Weiss Ratings upgraded Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Wells Fargo & Company upped their target price on Match Group from $30.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley upped their target price on Match Group from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.07.

Match Group Stock Up 1.3%

Match Group stock opened at $34.76 on Friday. The business has a fifty day moving average of $34.69 and a two-hundred day moving average of $32.84. The firm has a market cap of $8.11 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.55 and a beta of 1.33. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $39.20.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.3%. Match Group’s dividend payout ratio is currently 30.53%.

Insiders Place Their Bets

In other Match Group 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 transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares in the company, valued at $582,874.92. This represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.

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.