Bessemer Group Inc. reduced its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 79.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,360 shares of the technology company's stock after selling 106,594 shares during the quarter. Bessemer Group Inc.'s holdings in Match Group were worth $885,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Match Group in the 1st quarter worth $37,000. Canada Post Corp Registered Pension Plan purchased a new stake in Match Group in the fourth quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC raised 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 buying an additional 1,512 shares during the last quarter. 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 acquiring an additional 378 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Match Group during the first quarter worth about $103,000. 94.05% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The stock was acquired at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on MTCH shares. Stifel Nicolaus decreased their price objective 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. Bank of America cut their price target on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company lifted their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Barclays dropped their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.96.
View Our Latest Stock Analysis on MTCH
Match Group Stock Performance
Shares of NASDAQ MTCH traded up $0.08 during mid-day trading on Friday, reaching $32.52. The company's stock had a trading volume of 2,361,766 shares, compared to its average volume of 4,835,471. The stock has a 50-day moving average of $30.29 and a two-hundred day moving average of $31.37. The stock has a market capitalization of $8.14 billion, a P/E ratio of 16.10, a P/E/G ratio of 0.72 and a beta of 1.34. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.84.
Match Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.34%. Match Group's payout ratio is 37.62%.
Match Group Profile
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Free Report)
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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