KBC Group NV Sells 561,276 Shares of Match Group Inc. (NASDAQ:MTCH)

KBC Group NV lowered its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 50.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 561,630 shares of the technology company's stock after selling 561,276 shares during the period. KBC Group NV owned about 0.22% of Match Group worth $17,523,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MTCH. NBC Securities Inc. bought a new stake in shares of Match Group in the 1st quarter valued at $37,000. Canada Post Corp Registered Pension Plan acquired a new position in Match Group in the fourth quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after buying an additional 1,512 shares during the period. Assetmark Inc. boosted its position in Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares during the last quarter. Finally, CX Institutional acquired a new stake in Match Group during the 1st quarter worth about $103,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

MTCH has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Bank of America reduced their price target on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Citigroup decreased 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. Barclays cut their price objective on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $35.96.

Insider Buying and Selling at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the acquisition, the chief executive officer owned 137,478 shares in the company, valued at approximately $3,856,257.90. This represents a 106.45% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by corporate insiders.

Match Group Stock Up 5.2%

Shares of MTCH traded up $1.62 during mid-day trading on Tuesday, hitting $32.51. 5,428,782 shares of the company's stock traded hands, compared to its average volume of 4,830,477. The firm has a market capitalization of $8.14 billion, a P/E ratio of 16.09, a PEG ratio of 0.70 and a beta of 1.36. The business's 50-day moving average price is $30.14 and its 200-day moving average price is $31.35. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $38.84.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group's payout ratio is presently 37.62%.

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.