Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 97.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,133 shares of the technology company's stock after selling 473,183 shares during the period. Sumitomo Mitsui Trust Group Inc.'s holdings in Match Group were worth $410,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MTCH. Mirae Asset Global Investments Co. Ltd. increased its position in Match Group by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company's stock valued at $1,015,000 after buying an additional 2,429 shares in the last quarter. Hunter Perkins Capital Management LLC increased its holdings in shares of Match Group by 29.2% during the first quarter. Hunter Perkins Capital Management LLC now owns 27,970 shares of the technology company's stock valued at $873,000 after acquiring an additional 6,320 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Match Group in the 1st quarter valued at approximately $1,037,000. Penn Davis Mcfarland Inc. raised its position in shares of Match Group by 2.2% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 489,378 shares of the technology company's stock valued at $15,269,000 after purchasing an additional 10,465 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Match Group in the 1st quarter worth approximately $1,404,000. Hedge funds and other institutional investors own 94.05% of the company's stock.
Insider Activity
In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the purchase, the chief executive officer owned 137,478 shares of the company's stock, valued at $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have issued reports on MTCH. Evercore ISI reaffirmed a "cautious" rating and issued a $32.00 price target on shares of Match Group in a report on Wednesday, May 21st. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. UBS Group dropped their price target on Match Group from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Citigroup cut their price objective on Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley decreased their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $35.96.
Check Out Our Latest Analysis on Match Group
Match Group Trading Up 0.2%
NASDAQ MTCH opened at $32.52 on Friday. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.72 and a beta of 1.34. The stock has a 50-day moving average of $30.34 and a 200 day moving average of $31.38. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $38.84.
Match Group Dividend Announcement
The firm 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group's payout ratio is 37.62%.
About Match Group
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding MTCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Match Group Inc. (NASDAQ:MTCH - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Match Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Match Group wasn't on the list.
While Match Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
