Anson Funds Management LP Trims Stake in Match Group Inc. $MTCH

Key Points

• Anson Funds Management LP has reduced its stake in Match Group Inc. by 28.7%, now owning 1,072,879 shares, which represent 5.1% of its investment portfolio.
• Match Group announced a quarterly dividend of $0.19, yielding 2.0%, with the ex-dividend date set for October 3rd.
• Institutional investors currently own 94.05% of Match Group's stock, highlighting strong institutional interest in the company.

Anson Funds Management LP cut its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 28.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,072,879 shares of the technology company's stock after selling 432,801 shares during the period. Match Group accounts for 5.1% of Anson Funds Management LP's investment portfolio, making the stock its 2nd largest holding. Anson Funds Management LP owned about 0.43% of Match Group worth $33,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Starboard Value LP lifted its stake in Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after buying an additional 5,100,824 shares during the period. Nuveen LLC acquired a new position in Match Group in the first quarter valued at approximately $142,281,000. Invesco Ltd. lifted its stake in Match Group by 64.2% in the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock valued at $298,451,000 after buying an additional 3,738,509 shares during the period. Ameriprise Financial Inc. lifted its stake in Match Group by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock valued at $384,808,000 after buying an additional 1,822,362 shares during the period. Finally, LSV Asset Management lifted its stake in Match Group by 126.1% in the first quarter. LSV Asset Management now owns 1,679,575 shares of the technology company's stock valued at $52,403,000 after buying an additional 936,753 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $37.90 on Thursday. The company has a market capitalization of $9.12 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 0.76 and a beta of 1.36. The business has a fifty day moving average price of $35.39 and a two-hundred day moving average price of $32.07. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio is 37.44%.

Analyst Ratings Changes

Several equities analysts have issued reports on MTCH shares. Evercore ISI boosted their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Finally, Susquehanna upped their target price on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.44.

Insider Buying and Selling at Match Group

In other news, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the completion of the transaction, the director owned 21,926 shares in the company, valued at approximately $823,979.08. This represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer owned 23,240 shares of the company's stock, valued at $871,964.80. The trade was a 21.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,454 shares of company stock worth $907,839 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Match Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.