Banque Pictet & Cie SA Lowers Stake in Match Group Inc. (NASDAQ:MTCH)

Banque Pictet & Cie SA decreased its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 50.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,000 shares of the technology company's stock after selling 45,404 shares during the period. Banque Pictet & Cie SA's holdings in Match Group were worth $1,373,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in Match Group during the 1st quarter worth about $37,000. Canada Post Corp Registered Pension Plan bought a new position in Match Group in the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC increased its stake 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 valued at $50,000 after acquiring an additional 1,512 shares during the last quarter. Mather Group LLC. boosted its position in Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after buying an additional 1,434 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Match Group by 14.2% during 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 during the period. 94.05% of the stock is owned by institutional investors.

Insider Activity at Match Group

In other Match Group news, CEO Spencer M. Rascoff acquired 70,885 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer owned 137,478 shares in the company, valued at $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.64% of the stock is owned by corporate insiders.

Match Group Trading Down 3.3%

NASDAQ:MTCH traded down $1.12 on Friday, reaching $32.49. 3,243,998 shares of the stock traded hands, compared to its average volume of 4,781,145. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.72 and a beta of 1.34. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $38.84. The company's fifty day simple moving average is $30.59 and its 200 day simple moving average is $31.35.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.19 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.34%. Match Group's dividend payout ratio is presently 37.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MTCH shares. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Wells Fargo & Company boosted their target price on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Morgan Stanley dropped their price target on shares of 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. UBS Group decreased their target price on shares of Match Group from $34.00 to $31.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Citigroup reduced their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Match Group presently has an average rating of "Hold" and a consensus target price of $35.96.

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.