Boston Partners Cuts Stock Position in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Boston Partners has reduced its stake in Match Group Inc. by 4.4%, now holding approximately 1,292,448 shares worth $40.3 million.
• Investment firms such as Starboard Value LP and Invesco Ltd. have significantly increased their holdings in Match Group, indicating varied investor confidence.
• Match Group declared a quarterly dividend of $0.19 per share, reflecting a dividend yield of 2.0% and a payout ratio of 37.44%.

Boston Partners lowered its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,292,448 shares of the technology company's stock after selling 59,386 shares during the quarter. Boston Partners owned approximately 0.52% of Match Group worth $40,312,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Match Group in the 1st quarter worth $37,000. Canada Post Corp Registered Pension Plan acquired a new position in Match Group in the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC lifted 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. grew its holdings in shares of Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after purchasing an additional 1,434 shares during the last quarter. Finally, CX Institutional bought a new position in Match Group during the first quarter worth $103,000. 94.05% of the stock is owned by institutional investors.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the sale, the director directly owned 8,058 shares in the company, valued at $295,889.76. This trade represents a 60.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is owned by company insiders.

Match Group Trading Down 1.0%

NASDAQ MTCH traded down $0.38 on Friday, hitting $38.28. 3,219,524 shares of the company traded hands, compared to its average volume of 5,127,203. The business's 50 day moving average price is $33.05 and its 200-day moving average price is $31.65. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 0.76 and a beta of 1.36. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is 37.44%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. UBS Group boosted their price target on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna increased their target price on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Citigroup reduced their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Wells Fargo & Company upped their price target 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. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.44.

Match Group 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.