Match Group Inc. $MTCH Shares Sold by Novare Capital Management LLC

Key Points

• Novare Capital Management LLC significantly reduced its stake in Match Group Inc. by 45.6% in the second quarter, selling 64,130 shares and leaving it with 76,419 shares worth approximately $2.36 million.
• Insider trading included notable sales by CAO Philip D. Eigenmann and Director Stephen Bailey, who sold 6,531 and 12,500 shares respectively, with the total value of insider sales reaching $907,839 over the last 90 days.
• Match Group recently declared a quarterly dividend of $0.19, representing an annualized rate of $0.76 with a yield of 2.3%, while maintaining a dividend payout ratio of 37.44%.

Novare Capital Management LLC cut its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 45.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,419 shares of the technology company's stock after selling 64,130 shares during the period. Novare Capital Management LLC's holdings in Match Group were worth $2,361,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company's stock worth $31,000 after acquiring an additional 362 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Match Group in the first quarter worth approximately $49,000. Summit Securities Group LLC acquired a new stake in shares of Match Group in the first quarter worth approximately $54,000. Harbour Investments Inc. boosted its position in shares of Match Group by 28.0% in the second quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company's stock worth $63,000 after acquiring an additional 446 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Match Group by 18.5% in the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company's stock worth $77,000 after acquiring an additional 390 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 owned 23,240 shares of the company's stock, valued at $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen Bailey sold 12,500 shares of the company'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 completion of the sale, the director directly owned 8,058 shares of the company's stock, valued at $295,889.76. The trade was a 60.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,454 shares of company stock valued at $907,839 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

Match Group Trading Up 0.2%

Shares of NASDAQ:MTCH opened at $32.43 on Friday. The firm has a market cap of $7.80 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. The company has a fifty day simple moving average of $36.24 and a 200 day simple moving average of $32.76. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.3%. Match Group's dividend payout ratio is presently 37.44%.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of recent research reports. Susquehanna lifted their price target on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Match Group in a research report on Wednesday, October 8th. UBS Group lifted their price target on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI lifted their price target on shares of Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Five equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.44.

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.

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