Match Group Inc. $MTCH Shares Acquired by State of Wyoming

Key Points

• The State of Wyoming significantly increased its holdings in Match Group Inc. by 403.6% in Q1, owning 17,662 shares worth approximately $551,000.
• Match Group recently announced a quarterly dividend of $0.19, representing an annual yield of 2.0%, with an ex-dividend date set for October 3rd.
• Wall Street analysts have mixed ratings for Match Group, with five giving a Buy rating while the average target price is currently $35.44.

State of Wyoming increased its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 403.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,662 shares of the technology company's stock after purchasing an additional 14,155 shares during the quarter. State of Wyoming's holdings in Match Group were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MTCH. Stratos Wealth Partners LTD. increased its holdings in Match Group by 5.0% during the first quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company's stock valued at $614,000 after buying an additional 939 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Match Group by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company's stock worth $1,015,000 after buying an additional 2,429 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Match Group by 34.0% in the first quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company's stock worth $496,000 after buying an additional 4,035 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Match Group by 79.2% in the first quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company's stock valued at $289,000 after purchasing an additional 4,090 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Match Group by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company's stock valued at $17,272,000 after acquiring an additional 47,137 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In other news, Director Ann Mcdaniel sold 5,423 shares of Match Group stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total transaction of $203,796.34. Following the sale, the director owned 21,926 shares of the company's stock, valued at approximately $823,979.08. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Bailey sold 12,500 shares of the company's stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTCH. Citigroup cut their price objective 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. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Wells Fargo & Company raised their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note 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 for the company in a report on Friday, May 9th. Finally, Susquehanna lifted their target price 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. Five research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $35.44.

Match Group Stock Performance

Shares of MTCH traded up $0.61 during trading hours on Wednesday, hitting $37.59. 2,157,738 shares of the stock were exchanged, compared to its average volume of 4,697,534. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The stock's 50-day moving average price is $34.59 and its two-hundred day moving average price is $31.90.

Match Group Announces Dividend

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

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.