Janney Montgomery Scott LLC Has $1.34 Million Stock Position in Match Group Inc. (NASDAQ:MTCH)

Janney Montgomery Scott LLC trimmed its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 16.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,049 shares of the technology company's stock after selling 8,336 shares during the quarter. Janney Montgomery Scott LLC's holdings in Match Group were worth $1,343,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MTCH. Sanctuary Advisors LLC acquired a new stake in shares of Match Group during the fourth quarter valued at approximately $219,000. Truist Financial Corp purchased a new position in Match Group during the 4th quarter worth approximately $250,000. Bank of New York Mellon Corp grew its position in Match Group by 37.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,486,837 shares of the technology company's stock worth $81,344,000 after purchasing an additional 683,132 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Match Group during the 4th quarter valued at $704,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Match Group in the fourth quarter valued at $388,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Performance

Shares of NASDAQ MTCH traded up $1.62 during mid-day trading on Tuesday, reaching $32.51. 5,428,782 shares of the company traded hands, compared to its average volume of 4,829,568. The stock has a market cap of $8.14 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.70 and a beta of 1.34. The company's fifty day moving average is $30.19 and its two-hundred day moving average is $31.36. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group's dividend payout ratio is 37.62%.

Insider Buying and Selling at Match Group

In other news, CEO Spencer M. Rascoff bought 70,885 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the purchase, the chief executive officer owned 137,478 shares of the company's stock, valued at $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTCH. Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. JPMorgan Chase & Co. lowered their target price on Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Evercore ISI reiterated a "cautious" rating and issued a $32.00 target price on shares of Match Group in a report on Wednesday, May 21st. Barclays decreased their price target on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Stifel Nicolaus lowered 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $35.96.

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.