T. Rowe Price Investment Management Inc. Lowers Stock Position in Match Group Inc. $MTCH

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Match Group Inc. by 29.6% during the first quarter, holding 6,513,253 shares after selling 2,735,788 shares.
• Multiple institutional investors, including Starboard Value LP and Invesco Ltd., increased their stakes in Match Group, indicating growing confidence in the company.
• Match Group recently announced a quarterly dividend of $0.19 per share, with an annualized yield of 2.1%, reflecting its commitment to returning value to shareholders.

T. Rowe Price Investment Management Inc. reduced its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 29.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,513,253 shares of the technology company's stock after selling 2,735,788 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.60% of Match Group worth $203,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MTCH. Raymond James Financial Inc. bought a new position in Match Group during the fourth quarter valued at approximately $4,951,000. Guggenheim Capital LLC grew its position in Match Group by 5.2% during 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 during the last quarter. Jump Financial LLC purchased a new stake in shares of Match Group during the fourth quarter valued at approximately $592,000. First Trust Advisors LP grew its holdings in shares of Match Group by 58.1% in the fourth quarter. First Trust Advisors LP now owns 466,347 shares of the technology company's stock worth $15,254,000 after purchasing an additional 171,286 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Match Group by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,662,515 shares of the technology company's stock worth $87,092,000 after purchasing an additional 324,813 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Performance

MTCH stock traded up $0.51 on Friday, reaching $37.30. The company's stock had a trading volume of 3,896,474 shares, compared to its average volume of 5,153,445. The business has a fifty day simple moving average of $33.67 and a two-hundred day simple moving average of $31.74. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The firm has a market cap of $8.98 billion, a PE ratio of 18.37, a PEG ratio of 0.74 and a beta of 1.36.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. Match Group's dividend payout ratio (DPR) is presently 37.44%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MTCH shares. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Wells Fargo & Company raised their target price on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Barclays cut their target price 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. UBS Group raised their target price on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Citigroup cut their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $35.44.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the sale, the director owned 8,058 shares of the company's stock, valued at $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.64% of the stock is owned by insiders.

Match Group Company 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.