AdvisorShares Expands Stake in Match Group with Additional Shares

AdvisorShares Investments LLC has increased its investment in Match Group Inc. (NASDAQ:MTCH) by acquiring an additional 1,531 shares during the second quarter of 2023. This move boosts AdvisorShares’ holdings in the dating service provider to 15,211 shares, valued at approximately $470,000, according to its latest filing with the Securities and Exchange Commission.

A trend of increasing investments in Match Group is evident among institutional investors. Stratos Wealth Partners LTD. raised its stake by 5.0% in the first quarter, bringing their total to 19,671 shares worth $614,000. Similarly, Mirae Asset Global Investments Co. Ltd. increased its holdings by 7.9%, now owning 33,132 shares valued at $1,015,000. Public Employees Retirement System of Ohio also expanded its investment by 12.9% in the second quarter, acquiring 10,269 additional shares for a total of $2.78 million.

In total, approximately 94.05% of Match Group’s stock is owned by institutional investors, indicating strong confidence in the company’s future.

Analysts Adjust Price Targets for Match Group

Recent updates from several equity analysts suggest a positive outlook for Match Group. Susquehanna has increased its target price from $40.00 to $45.00, rating the stock as “positive” in a note released on August 7, 2023. UBS Group revised its target from $31.00 to $35.00 with a “neutral” rating on July 23, 2023. Other firms, including JPMorgan Chase & Co. and Evercore ISI, have also raised their price targets to $33.00 and $38.00, respectively.

Despite the positive sentiment, Morgan Stanley adjusted its target price downward from $35.00 to $34.00. Overall, five analysts have given Match Group a “Buy” rating, while sixteen maintain a “Hold” rating, resulting in an average rating of “Hold” with a consensus target price of $35.56 as reported by MarketBeat.com.

Market Performance and Dividend Announcements

On October 17, 2023, Match Group’s stock opened at $32.30. The company has experienced fluctuations in the past year, with a 52-week low of $26.39 and a high of $39.20. Match Group holds a market capitalization of $7.77 billion and a price-to-earnings ratio of 15.91.

In conjunction with its market performance, Match Group announced a quarterly dividend of $0.19 per share, which was paid to stockholders of record on October 3, 2023. This dividend represents an annualized yield of 2.4% and a payout ratio of 37.44%.

Insider Trading Activity

Recent insider trading activities have also drawn attention. On August 7, 2023, Director Stephen Bailey sold 12,500 shares at an average price of $36.72, totaling $459,000. Following this transaction, he retained 8,058 shares valued at approximately $295,889.76. Additionally, Director Ann McDaniel sold 5,423 shares on August 27, 2023, for around $203,796.34, resulting in a decrease of 19.83% in her holdings.

In the last quarter, company insiders sold a total of 24,454 shares worth $907,839. Currently, corporate insiders hold 0.64% of Match Group’s stock.

Match Group, Inc. continues to innovate in the online dating sector with a diverse portfolio of brands, including Tinder, Hinge, and OkCupid. Its services are available in over 40 languages worldwide, catering to a global audience. This ongoing expansion and positive market reception strengthen the company’s position in the dynamic technology landscape.