Charles Schwab Investment Management Inc. Has $86.27 Million Position in Match Group Inc. (NASDAQ:MTCH)

Charles Schwab Investment Management Inc. raised its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,765,162 shares of the technology company's stock after buying an additional 97,255 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.10% of Match Group worth $86,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Wellington Management Group LLP increased its holdings in Match Group by 13.4% in the 4th quarter. Wellington Management Group LLP now owns 9,647 shares of the technology company's stock worth $316,000 after buying an additional 1,139 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Match Group by 271.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 506,462 shares of the technology company's stock valued at $16,566,000 after purchasing an additional 370,058 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Match Group by 14.7% during the 4th quarter. Cerity Partners LLC now owns 66,035 shares of the technology company's stock worth $2,160,000 after acquiring an additional 8,461 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Match Group during the 4th quarter worth $4,951,000. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Match Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,029 shares of the technology company's stock worth $3,697,000 after acquiring an additional 710 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MTCH. Barclays reduced their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Bank of America reduced their price objective on Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Evercore ISI boosted their price objective on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.44.

Insider Activity

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

Match Group Stock Down 1.0%

Match Group stock traded down $0.38 during mid-day trading on Friday, hitting $38.28. 3,219,524 shares of the company's stock were exchanged, compared to its average volume of 5,100,994. The firm has a market capitalization of $9.59 billion, a P/E ratio of 18.86, a PEG ratio of 0.76 and a beta of 1.36. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The company's 50 day simple moving average is $33.05 and its 200-day simple moving average is $31.67.

Match Group Announces Dividend

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

About Match Group

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.