Match Group Inc. $MTCH Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP significantly reduced its stake in Match Group Inc. by 96.8% in the first quarter, now holding only 12,210 shares valued at approximately $381,000.
• Analysts have varied opinions on Match Group, with price targets ranging between $32.00 and $45.00; currently, 15 analysts rate it as a "Hold."
• Match Group announced a quarterly dividend of $0.19 per share, reflecting an annualized yield of 2.0%, with the dividend payout ratio at 37.44%.

Korea Investment CORP trimmed its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 96.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,210 shares of the technology company's stock after selling 364,755 shares during the period. Korea Investment CORP's holdings in Match Group were worth $381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Starboard Value LP raised its position in shares of Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after purchasing an additional 5,100,824 shares during the period. Ameriprise Financial Inc. grew its stake in Match Group by 24.2% during the fourth quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock valued at $343,427,000 after acquiring an additional 2,042,677 shares in the last quarter. Invesco Ltd. grew its stake in shares of Match Group by 64.2% in the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after buying an additional 3,738,509 shares in the last quarter. Nuveen LLC purchased a new position in shares of Match Group in the 1st quarter worth $142,281,000. Finally, First Manhattan CO. LLC. grew its stake in shares of Match Group by 1.9% in the 4th quarter. First Manhattan CO. LLC. now owns 3,466,894 shares of the technology company's stock worth $113,402,000 after buying an additional 63,238 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" 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. Barclays cut their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, UBS Group boosted their target price on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Five research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.44.

Match Group Stock Up 0.4%

Shares of Match Group stock traded up $0.14 during trading hours on Wednesday, reaching $37.44. 2,246,117 shares of the company's stock were exchanged, compared to its average volume of 4,739,498. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The company has a market capitalization of $9.01 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The business has a fifty day moving average of $33.94 and a two-hundred day moving average of $31.79.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio (DPR) 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.