Cresset Asset Management LLC Sells 44,334 Shares of Match Group, Inc. (NASDAQ:MTCH)

Cresset Asset Management LLC decreased its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 85.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,777 shares of the technology company's stock after selling 44,334 shares during the quarter. Cresset Asset Management LLC's holdings in Match Group were worth $254,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of MTCH. Mawer Investment Management Ltd. lifted its holdings in Match Group by 716.8% in the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock worth $171,889,000 after purchasing an additional 4,611,598 shares during the period. Norges Bank acquired a new stake in Match Group in the fourth quarter worth about $112,176,000. Arrowstreet Capital Limited Partnership lifted its holdings in Match Group by 110.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock worth $183,968,000 after purchasing an additional 2,952,470 shares during the period. Ameriprise Financial Inc. lifted its holdings in Match Group by 24.2% in the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock worth $343,427,000 after purchasing an additional 2,042,677 shares during the period. Finally, DnB Asset Management AS lifted its holdings in Match Group by 4,659.2% in the fourth quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company's stock worth $62,643,000 after purchasing an additional 1,874,853 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Evercore ISI reaffirmed a "cautious" rating and issued a $32.00 price objective on shares of Match Group in a report on Wednesday. UBS Group reduced their price objective on shares of Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. JPMorgan Chase & Co. cut their price target on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Bank of America cut their price target on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 21st. 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, Match Group has a consensus rating of "Hold" and an average target price of $35.91.

Insider Activity

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the acquisition, the chief executive officer now directly owns 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Gary Swidler sold 242,209 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Match Group Stock Down 0.8%

Shares of MTCH traded down $0.24 during trading hours on Friday, reaching $29.21. The company's stock had a trading volume of 3,248,511 shares, compared to its average volume of 4,914,931. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50 day moving average of $29.63 and a two-hundred day moving average of $31.59.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued 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 2.60%. Match Group's dividend payout ratio is 37.62%.

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.