Keep an eye on Match Group (MTCH).

After finding double-bottom support at $27, the dating site stock is now back up to $29.25. From here, we’d like to see it retest $33 initially.

Helping, CEO Spencer Rascoff recently bought $2 million for 70,885 shares. 

He paid an average price of $27.89 a share for 53,398 of them and an average price of $28.54 for 17,487. Rascoff already bought $2 million worth of shares at an average price of $34.41 on Feb. 6. He now owns 137,478 shares of Match.

And, as quoted by Barron’s, “100 days in as CEO and more confident than ever in our team and Match Group’s future. Friday, I purchased $2 million of stock of MTCH, in addition to the $2 million I bought last quarter. Energized by the responsibility and privilege of defining the future of connections for this category.”

Even better, the company declared a quarterly dividend of 19 cents per share, which is payable on July 18 to shareholders of record as of July 3.

Sincerely.

Ian Cooper