Bank of New York Mellon Corp Has $54.57 Million Stock Holdings in Match Group Inc. (NASDAQ:MTCH)

Bank of New York Mellon Corp reduced its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,749,025 shares of the technology company's stock after selling 737,812 shares during the period. Bank of New York Mellon Corp owned 0.70% of Match Group worth $54,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. NBC Securities Inc. bought a new stake in Match Group in the first quarter worth $37,000. Canada Post Corp Registered Pension Plan bought a new stake in Match Group in the fourth quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after purchasing an additional 1,512 shares in the last quarter. Mather Group LLC. boosted its holdings in Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock worth $79,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after purchasing an additional 378 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer directly owned 137,478 shares of the company's stock, valued at $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

MTCH has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Evercore ISI reissued a "cautious" rating and set a $32.00 target price on shares of Match Group in a research report on Wednesday, May 21st. Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Morgan Stanley cut their target price on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Stifel Nicolaus cut their target price on shares of Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $35.96.

Match Group Trading Down 3.3%

NASDAQ MTCH traded down $1.12 on Friday, reaching $32.49. The company's stock had a trading volume of 3,243,998 shares, compared to its average volume of 4,781,145. The firm has a market cap of $8.14 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.34. The business has a 50-day moving average price of $30.59 and a 200 day moving average price of $31.37. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.84.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.34%. Match Group's dividend payout ratio is 37.62%.

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.