Deutsche Bank AG Decreases Position in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Deutsche Bank AG reduced its stake in Match Group Inc. by 25.3%, owning approximately $45.99 million in shares after selling 498,082 shares.
• Match Group recently declared a quarterly dividend of $0.19 per share, representing a 2.1% dividend yield based on the annualized amount.
• Analysts have mixed ratings on Match Group shares, with a consensus rating of "Hold" and an average target price of $35.44 per share.

Deutsche Bank AG reduced its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 25.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,473,906 shares of the technology company's stock after selling 498,082 shares during the quarter. Deutsche Bank AG owned approximately 0.59% of Match Group worth $45,986,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Starboard Value LP lifted its stake in shares of Match Group by 53.4% in the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after purchasing an additional 5,100,824 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Match Group by 24.2% in the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock valued at $343,427,000 after purchasing an additional 2,042,677 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Match Group by 10.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 5,066,321 shares of the technology company's stock valued at $165,719,000 after purchasing an additional 487,903 shares during the last quarter. First Manhattan CO. LLC. lifted its stake in shares of Match Group by 1.9% in the 4th quarter. First Manhattan CO. LLC. now owns 3,466,894 shares of the technology company's stock valued at $113,402,000 after purchasing an additional 63,238 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Match Group by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,765,162 shares of the technology company's stock valued at $86,273,000 after purchasing an additional 97,255 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares of the company's stock, valued at approximately $295,889.76. The trade was a 60.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.64% of the company's stock.

Match Group Price Performance

Shares of Match Group stock traded down $0.38 on Friday, reaching $38.28. 3,219,524 shares of the company were exchanged, compared to its average volume of 5,100,994. The stock's 50 day moving average price is $33.05 and its 200-day moving average price is $31.70. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a market cap of $9.59 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

Match Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MTCH. JPMorgan Chase & Co. upped their price target on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Wells Fargo & Company upped their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. UBS Group upped their price target on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup decreased their price target on Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Bank of America decreased their price target on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Match Group currently has a consensus 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.