New Age Alpha Advisors LLC Sells 30,202 Shares of Match Group Inc. (NASDAQ:MTCH)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Match Group by 20.6%, now holding 116,063 shares valued at approximately $3.62 million.
• Match Group's recent quarterly earnings report revealed EPS of $0.49, missing expectations of $0.79, while revenue was reported at $863.74 million.
• The company announced a quarterly dividend of $0.19 per share, with a payment date set for October 17th, translating to a 2.3% dividend yield.

New Age Alpha Advisors LLC reduced its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 20.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,063 shares of the technology company's stock after selling 30,202 shares during the quarter. New Age Alpha Advisors LLC's holdings in Match Group were worth $3,621,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MTCH. Starboard Value LP lifted its holdings in shares of Match Group by 53.4% in the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after purchasing an additional 5,100,824 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Match Group by 24.2% in the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock valued at $343,427,000 after acquiring an additional 2,042,677 shares in the last quarter. Wolf Hill Capital Management LP bought a new position in shares of Match Group in the 4th quarter valued at about $44,514,000. Invesco Ltd. grew its holdings in shares of Match Group by 25.3% in the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company's stock valued at $190,608,000 after acquiring an additional 1,174,889 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Match Group by 126.1% in the 1st quarter. LSV Asset Management now owns 1,679,575 shares of the technology company's stock valued at $52,403,000 after acquiring an additional 936,753 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were 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 $295,889.76. This represents a 60.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is currently owned by insiders.

Match Group Stock Performance

Shares of MTCH stock traded down $0.26 during midday trading on Friday, hitting $36.09. 3,567,944 shares of the company were exchanged, compared to its average volume of 5,060,211. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.77. The firm has a market capitalization of $9.04 billion, a P/E ratio of 17.78, a PEG ratio of 0.73 and a beta of 1.36. The firm's 50 day moving average price is $32.40 and its two-hundred day moving average price is $31.58.

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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio is presently 37.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MTCH. Wells Fargo & Company raised their price objective on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Bank of America decreased their price objective on 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 objective on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, UBS Group upped their target price 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 equities research 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 company presently has a consensus rating of "Hold" and a consensus price target of $35.44.

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.