Banque Pictet & Cie SA Lowers Holdings in Match Group Inc. $MTCH

Key Points

• Banque Pictet & Cie SA has significantly reduced its holdings in Match Group Inc. by 50%, selling 22,000 shares during the second quarter and valuing its remaining stake at $680,000.
• Several large investors are actively adjusting their holdings, with Toronto Dominion Bank increasing its position by 4.5% and acquiring an additional 5,782 shares in the fourth quarter.
• Match Group announced a quarterly dividend of $0.19 per share, set to be paid on October 17th, contributing to a yield of 2.1% for investors.

Banque Pictet & Cie SA lowered its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 50.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,000 shares of the technology company's stock after selling 22,000 shares during the quarter. Banque Pictet & Cie SA's holdings in Match Group were worth $680,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Toronto Dominion Bank boosted its position in shares of Match Group by 4.5% in the fourth quarter. Toronto Dominion Bank now owns 133,580 shares of the technology company's stock worth $4,369,000 after acquiring an additional 5,782 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Match Group by 6.8% in the fourth quarter. Mackenzie Financial Corp now owns 59,886 shares of the technology company's stock worth $1,959,000 after acquiring an additional 3,787 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Match Group in the fourth quarter worth approximately $5,125,000. Siemens Fonds Invest GmbH acquired a new stake in shares of Match Group in the fourth quarter worth approximately $382,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Match Group in the fourth quarter worth approximately $2,568,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ann Mcdaniel sold 5,423 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total transaction of $203,796.34. Following the transaction, the director directly owned 21,926 shares of the company's stock, valued at approximately $823,979.08. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the transaction, the chief accounting officer directly owned 23,240 shares in the company, valued at approximately $871,964.80. The trade was a 21.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,454 shares of company stock worth $907,839 over the last ninety days. 0.64% of the stock is owned by company insiders.

Match Group Stock Up 1.0%

MTCH opened at $36.24 on Friday. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The company has a 50 day moving average of $36.54 and a two-hundred day moving average of $32.52. The company has a market cap of $8.72 billion, a P/E ratio of 17.85, a P/E/G ratio of 0.71 and a beta of 1.36.

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, October 3rd. Match Group's payout ratio is currently 37.44%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTCH. Evercore ISI raised their target price on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. UBS Group raised their target price on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Susquehanna raised their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their target price on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Five research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.44.

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.

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