Lazard Asset Management LLC Lowers Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Lazard Asset Management LLC reduced its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 81.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,592 shares of the technology company's stock after selling 105,162 shares during the quarter. Lazard Asset Management LLC's holdings in Match Group were worth $804,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group in the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after acquiring an additional 1,512 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock valued at $107,000 after purchasing an additional 2,652 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Match Group during the fourth quarter valued at about $116,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTCH has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company decreased their price target on Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Citigroup lowered their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $35.91.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff acquired 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the acquisition, the chief executive officer now owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Gary Swidler sold 242,209 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31% decrease in their position. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Match Group Trading Down 0.8%

Shares of MTCH stock traded down $0.24 during trading hours on Monday, reaching $29.21. The stock had a trading volume of 3,248,511 shares, compared to its average volume of 4,919,370. The stock's fifty day simple moving average is $29.59 and its 200 day simple moving average is $31.54. The firm has a market capitalization of $7.32 billion, a PE ratio of 14.46, a PEG ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a 12 month low of $26.39 and a 12 month high of $38.84.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.60%. Match Group's payout ratio is currently 37.62%.

Match Group Profile

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.