DnB Asset Management AS Sells 7,229 Shares of Match Group Inc. $MTCH

Key Points

• DnB Asset Management AS has decreased its ownership in Match Group Inc. by selling 7,229 shares, now holding approximately 1,907,864 shares valued at $59.5 million.
• Match Group has announced a quarterly dividend of $0.19 per share, with payment scheduled for October 17th, which signifies a 2.0% yield based on an annualized dividend of $0.76.
• Several brokerages have updated their ratings on Match Group, with price targets ranging from $35.44 to $46.00 and a majority rating of 'Hold' among analysts.

DnB Asset Management AS lessened its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 0.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,907,864 shares of the technology company's stock after selling 7,229 shares during the period. DnB Asset Management AS owned 0.76% of Match Group worth $59,525,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its holdings in Match Group by 5.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company's stock worth $614,000 after acquiring an additional 939 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Match Group by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company's stock worth $1,015,000 after acquiring an additional 2,429 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Match Group by 34.0% in the 1st quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company's stock valued at $496,000 after buying an additional 4,035 shares during the period. GAMMA Investing LLC grew its holdings in shares of Match Group by 79.2% in the 1st quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company's stock valued at $289,000 after buying an additional 4,090 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Match Group by 9.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company's stock valued at $17,272,000 after buying an additional 47,137 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Stock Performance

NASDAQ MTCH traded up $0.60 on Monday, reaching $38.77. The company had a trading volume of 4,217,958 shares, compared to its average volume of 4,681,591. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.36. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company's fifty day moving average is $35.01 and its 200-day moving average is $31.94.

Match Group Announces Dividend

The business 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 of this dividend 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 is presently 37.44%.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 12,500 shares of the company's 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 of the company's stock, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the transaction, the chief accounting officer directly owned 23,240 shares of the company's stock, valued at approximately $871,964.80. The trade was a 21.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,454 shares of company stock valued at $907,839. Company insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTCH. Evercore ISI boosted their price target on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Susquehanna boosted their price target on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock 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.