Match Group Inc. (NASDAQ:MTCH) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 10.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,090 shares of the technology company's stock after selling 16,361 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.06% of Match Group worth $4,190,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Match Group by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company's stock worth $1,015,000 after buying an additional 2,429 shares in the last quarter. QRG Capital Management Inc. increased its position in Match Group by 34.0% in the first quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company's stock worth $496,000 after purchasing an additional 4,035 shares during the last quarter. GAMMA Investing LLC increased its position in Match Group by 79.2% in the first quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company's stock worth $289,000 after purchasing an additional 4,090 shares during the last quarter. Assetmark Inc. increased its position 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 purchasing an additional 378 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Match Group by 13.4% in the fourth quarter. Wellington Management Group LLP now owns 9,647 shares of the technology company's stock worth $316,000 after purchasing an additional 1,139 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff acquired 70,885 shares of the firm's stock in a transaction on 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 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Morgan Stanley cut their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Evercore ISI reiterated a "cautious" rating and set a $32.00 price objective on shares of Match Group in a research report on Wednesday, May 21st. Barclays lowered their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Finally, Stifel Nicolaus lowered their target price on shares of Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Match Group currently has a consensus rating of "Hold" and an average price target of $35.96.

Match Group Trading Down 3.3%

MTCH stock traded down $1.12 during midday trading on Friday, reaching $32.49. The stock had a trading volume of 3,243,998 shares, compared to its average volume of 4,781,145. The company's fifty day simple moving average is $30.59 and its 200 day simple moving average is $31.37. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.34. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $38.84.

Match Group Announces Dividend

The company 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 currently 37.62%.

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.