Match Group Inc. (NASDAQ:MTCH) Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP reduced its stake in Match Group by 45.5% during Q1, now holding 9,969 shares worth $311,000.
• Match Group recently announced a quarterly dividend of $0.19 per share, with a dividend yield of 2.0%.
• Analysts have set new price targets for Match Group, ranging from $28.00 to $45.00, with an average consensus target of $35.44.

Entropy Technologies LP lessened its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 45.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,969 shares of the technology company's stock after selling 8,331 shares during the period. Entropy Technologies LP's holdings in Match Group were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Starboard Value LP lifted its stake in Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after acquiring an additional 5,100,824 shares in the last quarter. Invesco Ltd. increased its holdings in Match Group by 64.2% during the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after purchasing an additional 3,738,509 shares during the period. Ameriprise Financial Inc. raised its position in 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 in the last quarter. Wolf Hill Capital Management LP purchased a new position in shares of Match Group in the 4th quarter valued at about $44,514,000. Finally, LSV Asset Management grew its position in shares of Match Group by 126.1% during the first quarter. LSV Asset Management now owns 1,679,575 shares of the technology company's stock worth $52,403,000 after buying an additional 936,753 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTCH shares. Susquehanna upped their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Evercore ISI upped their target price on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. UBS Group upped their target price on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $35.44.

Match Group Trading Down 1.0%

Shares of NASDAQ:MTCH traded down $0.38 during midday trading on Friday, hitting $38.28. 3,219,524 shares of the stock were exchanged, compared to its average volume of 5,100,994. The stock has a market cap of $9.59 billion, a P/E ratio of 18.86, a PEG ratio of 0.76 and a beta of 1.36. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The company has a 50 day moving average price of $33.05 and a 200-day moving average price of $31.67.

Match Group Announces Dividend

The company 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 annualized dividend and a yield of 2.0%. Match Group's payout ratio is presently 37.44%.

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.