Match Group Inc. $MTCH Stock Holdings Lowered by Resona Asset Management Co. Ltd.

Key Points

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Resona Asset Management Co. Ltd. reduced its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 97.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,162 shares of the technology company's stock after selling 69,594 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Match Group were worth $66,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Match Group in the 1st quarter worth approximately $37,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after purchasing an additional 1,512 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Match Group by 130.1% during the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after acquiring an additional 1,434 shares during the period. CX Institutional acquired a new stake in shares of Match Group during the first quarter valued at approximately $103,000. Finally, Assetmark Inc. raised its holdings in shares of Match Group by 14.1% during the first quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock valued at $108,000 after acquiring an additional 429 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Down 1.1%

MTCH stock opened at $37.84 on Tuesday. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 0.76 and a beta of 1.36. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The firm has a 50 day moving average of $33.17 and a two-hundred day moving average of $31.66.

Match Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MTCH shares. Stifel Nicolaus cut their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Susquehanna boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Finally, UBS Group boosted their price target on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $35.44.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction that occurred 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 directly owned 8,058 shares of the company's stock, valued at $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by corporate 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.

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