iA Global Asset Management Inc. Has $454,000 Holdings in Match Group Inc. (NASDAQ:MTCH)

Key Points

• iA Global Asset Management Inc. has reduced its stake in Match Group Inc. by 68.2%, selling 31,139 shares to hold a total of 14,548 shares valued at approximately $454,000.
• Several other investors, including Starboard Value LP and Ameriprise Financial Inc., have significantly increased their holdings in Match Group, indicating strong institutional interest.
• Match Group announced a quarterly dividend of $0.19, with an annualized payout ratio of 37.44%, reflecting a yield of 2.1% for shareholders of record.

iA Global Asset Management Inc. decreased its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 68.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,548 shares of the technology company's stock after selling 31,139 shares during the period. iA Global Asset Management Inc.'s holdings in Match Group were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MTCH. Wellington Management Group LLP lifted its holdings in Match Group by 13.4% during the fourth quarter. Wellington Management Group LLP now owns 9,647 shares of the technology company's stock worth $316,000 after acquiring an additional 1,139 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in Match Group during the fourth quarter worth about $2,352,000. Envestnet Asset Management Inc. lifted its stake in shares of Match Group by 271.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 506,462 shares of the technology company's stock valued at $16,566,000 after acquiring an additional 370,058 shares during the last quarter. Cerity Partners LLC increased its holdings in Match Group by 14.7% during the 4th quarter. Cerity Partners LLC now owns 66,035 shares of the technology company's stock valued at $2,160,000 after purchasing an additional 8,461 shares during the period. Finally, Invesco Ltd. increased its holdings in Match Group by 25.3% during the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company's stock valued at $190,608,000 after purchasing an additional 1,174,889 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction that occurred 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 sale, the director directly owned 8,058 shares in the company, valued at $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.64% of the company's stock.

Match Group Price Performance

Shares of MTCH stock traded down $0.26 during trading hours on Friday, reaching $36.09. The stock had a trading volume of 3,567,944 shares, compared to its average volume of 5,060,211. The firm has a 50-day simple moving average of $32.40 and a 200-day simple moving average of $31.57. The firm has a market capitalization of $9.04 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $38.77.

Match Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio (DPR) is currently 37.44%.

Analyst Upgrades and Downgrades

MTCH has been the topic of several recent research reports. Barclays cut their price target on Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Stifel Nicolaus decreased their target price on Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Bank of America decreased their target price on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Evercore ISI raised their price target on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a report on Wednesday. Finally, Citigroup cut their price objective on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Sixteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus price target of $35.44.

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.