Aberdeen Group plc Sells 18,958 Shares of Match Group Inc. $MTCH

Key Points

• Aberdeen Group plc significantly reduced its stake in Match Group Inc. by 49.1%, now holding 19,676 shares valued at $614,000 after selling 18,958 shares during the first quarter.
• Institutional investors have shown varied interest in Match Group, with Starboard Value LP increasing its stake by 53.4% and new investments from Nuveen LLC and Invesco Ltd. adding substantial shares.
• Match Group announced a quarterly dividend of $0.19 per share, with an ex-dividend date of October 3rd, reflecting a 2.0% yield for investors.

Aberdeen Group plc lowered its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 49.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,676 shares of the technology company's stock after selling 18,958 shares during the period. Aberdeen Group plc's holdings in Match Group were worth $614,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Kovitz Investment Group Partners LLC purchased a new position in Match Group during the first quarter valued at approximately $2,148,000. Russell Investments Group Ltd. grew its stake in Match Group by 401.2% during the first quarter. Russell Investments Group Ltd. now owns 814,147 shares of the technology company's stock valued at $25,308,000 after acquiring an additional 651,719 shares in the last quarter. Motley Fool Asset Management LLC purchased a new position in Match Group during the first quarter valued at approximately $214,000. Nuveen LLC purchased a new position in Match Group during the first quarter valued at approximately $142,281,000. Finally, Invesco Ltd. grew its stake in 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. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Activity

In other news, 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 sale, the director owned 8,058 shares of the company's stock, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.64% of the company's stock.

Match Group Stock Up 0.1%

Shares of Match Group stock traded up $0.05 during trading on Wednesday, reaching $37.35. The company's stock had a trading volume of 871,104 shares, compared to its average volume of 4,730,496. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.74 and a beta of 1.36. The firm's 50-day moving average is $33.94 and its two-hundred day moving average is $31.79.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 2.0%. Match Group's dividend payout ratio is 37.44%.

Analyst Ratings Changes

A number of research firms have commented on MTCH. UBS Group boosted their price target on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup cut their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Wells Fargo & Company boosted their price target 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. Finally, Susquehanna boosted their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $35.44.

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.