Match Group Inc. $MTCH Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC reduced its stake in Match Group Inc. by 56.1%, owning 18,882 shares valued at approximately $583,000 after selling over 24,000 shares during the second quarter.
• Match Group recently announced a quarterly dividend of $0.19 per share, with a yield of 2.3%, payable on October 17th to shareholders recorded on October 3rd.
• Institutional investors now hold 94.05% of Match Group's stock, reflecting significant interest from major financial institutions in the company.

Janney Montgomery Scott LLC lessened its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 56.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,882 shares of the technology company's stock after selling 24,167 shares during the period. Janney Montgomery Scott LLC's holdings in Match Group were worth $583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MTCH. Ameriprise Financial Inc. grew its position in Match Group by 17.4% during the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock worth $384,808,000 after buying an additional 1,822,362 shares during the period. Invesco Ltd. increased its position in Match Group by 64.2% during the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after purchasing an additional 3,738,509 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Match Group by 10.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company's stock worth $173,880,000 after purchasing an additional 506,763 shares during the last quarter. Nuveen LLC acquired a new position in Match Group during the first quarter worth approximately $142,281,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Match Group by 3.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,765,162 shares of the technology company's stock valued at $86,273,000 after purchasing an additional 97,255 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Match Group Price Performance

NASDAQ:MTCH opened at $32.35 on Friday. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The stock's 50-day moving average is $36.32 and its two-hundred day moving average is $32.76. The stock has a market cap of $7.78 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 0.65 and a beta of 1.38.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. 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 2.3%. Match Group's dividend payout ratio is currently 37.44%.

Analyst Ratings Changes

Several research analysts recently commented on MTCH shares. UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Match Group in a report on Wednesday, October 8th. Susquehanna upped their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Evercore ISI boosted their price target on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their target price on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, Match Group has a consensus rating of "Hold" and an average target price of $35.44.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the sale, the chief accounting officer directly owned 23,240 shares of the company's stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,454 shares of company stock valued at $907,839 in the last 90 days. 0.64% of the stock is currently owned by insiders.

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.

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