Asset Management One Co. Ltd. Sells 91,826 Shares of Match Group Inc. (NASDAQ:MTCH)

Asset Management One Co. Ltd. cut its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 92.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,318 shares of the technology company's stock after selling 91,826 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Match Group were worth $228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Match Group in the 1st quarter valued at about $1,404,000. Manning & Napier Advisors LLC boosted its holdings in shares of Match Group by 99.9% during the first quarter. Manning & Napier Advisors LLC now owns 250,000 shares of the technology company's stock worth $7,800,000 after purchasing an additional 124,955 shares during the period. Blue Trust Inc. increased its holdings in Match Group by 34.1% during the 1st quarter. Blue Trust Inc. now owns 7,382 shares of the technology company's stock valued at $230,000 after purchasing an additional 1,878 shares during the period. State of Alaska Department of Revenue lifted its holdings in Match Group by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 179,405 shares of the technology company's stock worth $5,597,000 after buying an additional 775 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Match Group in the 1st quarter worth approximately $2,775,000. Institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTCH. Morgan Stanley dropped their price target on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Citigroup decreased their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Evercore ISI restated a "cautious" rating and issued a $32.00 target price on shares of Match Group in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company upped their price target on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Match Group currently has a consensus rating of "Hold" and an average target price of $35.96.

Match Group Stock Up 5.2%

Shares of Match Group stock traded up $1.62 on Tuesday, reaching $32.51. The company's stock had a trading volume of 5,428,782 shares, compared to its average volume of 4,887,214. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The firm's fifty day simple moving average is $30.14 and its two-hundred day simple moving average is $31.35. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 0.70 and a beta of 1.36.

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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, July 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

Insider Activity

In related news, CEO Spencer M. Rascoff acquired 70,885 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer directly owned 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.64% of the stock is currently owned by insiders.

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.