Global Endowment Management LP Sells 9,436 Shares of Match Group Inc. $MTCH

Key Points

• Global Endowment Management LP significantly reduced its holdings in Match Group Inc. by 55.8%, selling 9,436 shares and retaining 7,460 shares valued at approximately $233,000.
• Institutional investors have shown varied activity with Match Group, with multiple firms increasing their stakes, notably Russell Investments Group Ltd., which grew its holdings by 401.2%.
• Match Group's stock has been assigned an average rating of "Hold" by analysts, with a recent price target ranging between $29.00 to $38.00 based on several research reports.

Global Endowment Management LP cut its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 55.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,460 shares of the technology company's stock after selling 9,436 shares during the period. Global Endowment Management LP's holdings in Match Group were worth $233,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Match Group during the 4th quarter valued at about $4,951,000. Sterling Capital Management LLC grew its stake in Match Group by 56.1% during the fourth quarter. Sterling Capital Management LLC now owns 15,235 shares of the technology company's stock worth $498,000 after buying an additional 5,473 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Match Group in the fourth quarter valued at $272,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of Match Group in the fourth quarter valued at $43,000. Finally, Guggenheim Capital LLC raised its holdings in Match Group by 5.2% in the fourth quarter. Guggenheim Capital LLC now owns 21,603 shares of the technology company's stock valued at $707,000 after acquiring an additional 1,073 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director owned 8,058 shares in the company, valued at $295,889.76. This trade represents a 60.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Susquehanna raised their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Stifel Nicolaus cut their price objective on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI lifted their price target on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target 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. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus target price of $35.44.

Match Group Price Performance

NASDAQ:MTCH traded down $0.7750 during trading hours on Wednesday, reaching $37.0750. 1,663,632 shares of the stock were exchanged, compared to its average volume of 4,772,224. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The firm has a 50 day moving average of $33.30 and a 200 day moving average of $31.71. The stock has a market cap of $8.92 billion, a PE ratio of 18.28, a PEG ratio of 0.75 and a beta of 1.36.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. 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 dividend payout ratio (DPR) is currently 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.