Novare Capital Management LLC Reduces Stock Holdings in Match Group Inc. (NASDAQ:MTCH)

Novare Capital Management LLC trimmed its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 36.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,549 shares of the technology company's stock after selling 81,813 shares during the period. Novare Capital Management LLC owned about 0.06% of Match Group worth $4,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assetmark Inc. grew its stake in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after buying an additional 378 shares during the period. Fulton Bank N.A. grew its position in shares of Match Group by 3.9% during the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock valued at $321,000 after purchasing an additional 388 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock worth $757,000 after acquiring an additional 415 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Match Group by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company's stock worth $2,445,000 after purchasing an additional 478 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Match Group by 2.9% in the fourth quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company's stock valued at $677,000 after acquiring an additional 576 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Stock Down 2.2%

Shares of Match Group stock traded down $0.71 on Monday, reaching $31.83. The stock had a trading volume of 3,678,402 shares, compared to its average volume of 4,834,745. The company has a 50 day moving average price of $30.38 and a 200 day moving average price of $31.36. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $38.84. The stock has a market capitalization of $7.97 billion, a P/E ratio of 15.76, a P/E/G ratio of 0.72 and a beta of 1.34.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Match Group's payout ratio is 37.62%.

Insider Buying and Selling

In other Match Group news, CEO Spencer M. Rascoff acquired 70,885 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the purchase, the chief executive officer owned 137,478 shares in the company, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTCH. Wells Fargo & Company upped their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Bank of America decreased their price target on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Stifel Nicolaus reduced their price objective on shares of Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price objective 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. One equities research 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 MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.96.

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.