Caisse DE Depot ET Placement DU Quebec Sells 193,139 Shares of Match Group Inc. $MTCH

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in Match Group Inc. by 65.6%, resulting in ownership of 101,100 shares after selling 193,139 shares.
• Match Group recently announced a quarterly dividend of $0.19 per share, leading to an annualized basis of $0.76 and a yield of 2.1%.
• Analyst ratings for Match Group show a mix with five analysts recommending a Buy and fifteen a Hold, with an average price target of $35.44.

Caisse DE Depot ET Placement DU Quebec decreased its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 65.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,100 shares of the technology company's stock after selling 193,139 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in Match Group were worth $3,154,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MTCH. NBC Securities Inc. purchased a new position in Match Group in the first quarter valued at approximately $37,000. SVB Wealth LLC purchased a new stake in shares of Match Group during the first quarter worth $49,000. Summit Securities Group LLC purchased a new stake in shares of Match Group during the first quarter worth $54,000. Mather Group LLC. lifted its position in shares of Match Group by 130.1% during the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock worth $79,000 after acquiring an additional 1,434 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Match Group during the first quarter worth $103,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MTCH. Citigroup dropped their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company increased their target price on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Barclays dropped their target price on Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Evercore ISI increased their target price on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Finally, UBS Group increased their target price on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Match Group presently has a consensus rating of "Hold" and an average target price of $35.44.

Match Group Stock Up 0.8%

Shares of MTCH stock traded up $0.30 on Friday, reaching $37.34. The company's stock had a trading volume of 4,124,497 shares, compared to its average volume of 4,743,289. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The company has a market capitalization of $8.98 billion, a P/E ratio of 18.39, a PEG ratio of 0.74 and a beta of 1.36. The stock's 50 day simple moving average is $34.35 and its 200-day simple moving average is $31.86.

Match Group Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director owned 21,926 shares of the company's stock, valued at $823,979.08. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Bailey sold 12,500 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.64% of the company's stock.

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.