Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Ethic Inc.

Ethic Inc. reduced its position in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 45.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,772 shares of the technology company's stock after selling 9,778 shares during the quarter. Ethic Inc.'s holdings in Match Group were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MTCH. Canada Post Corp Registered Pension Plan bought a new stake in shares of Match Group in the 4th quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Match Group by 30,240.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after acquiring an additional 1,512 shares in the last quarter. Assetmark Inc. lifted its position in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after purchasing an additional 2,652 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Match Group in the fourth quarter worth $116,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff bought 70,885 shares of the business's stock in a transaction dated Friday, May 9th. The stock was acquired at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer now directly owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Gary Swidler sold 242,209 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This represents a 99.31% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company's stock.

Match Group Stock Performance

NASDAQ:MTCH traded down $0.51 during trading hours on Tuesday, reaching $29.42. The company's stock had a trading volume of 5,827,867 shares, compared to its average volume of 4,915,484. Match Group, Inc. has a 1 year low of $26.39 and a 1 year high of $38.84. The firm has a 50-day simple moving average of $29.75 and a 200-day simple moving average of $31.73. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 0.82 and a beta of 1.42.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.58%. Match Group's dividend payout ratio is currently 37.62%.

Analyst Ratings Changes

Several research analysts have recently commented on MTCH shares. Morgan Stanley decreased their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. StockNews.com downgraded Match Group from a "buy" rating to a "hold" rating in a research report on Saturday. Hsbc Global Res cut Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Stifel Nicolaus lowered their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays cut their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $35.91.

About Match Group

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.