Mitsubishi UFJ Asset Management Co. Ltd. Decreases Stock Position in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Match Group Inc. by 30.2% in the first quarter, now owning 252,888 shares valued at approximately $7.89 million.
• Several institutional investors, including Starboard Value LP and Ameriprise Financial Inc., have increased their holdings in Match Group during the last quarter, reflecting a significant interest from institutional investors who collectively own 94.05% of the company's stock.
• Match Group recently announced a quarterly dividend of $0.19 per share, with a yield of 2.1%, and planned to pay this on October 17th to investors of record on October 3rd.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,888 shares of the technology company's stock after selling 109,394 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of Match Group worth $7,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC raised its holdings in shares of Match Group by 5.1% during the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock worth $215,000 after acquiring an additional 334 shares in the last quarter. Fulton Bank N.A. lifted its position in Match Group by 3.9% during the first 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 during the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Match Group by 1.8% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock worth $757,000 after buying an additional 415 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock worth $108,000 after buying an additional 429 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Match Group by 2.7% during the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company's stock valued at $546,000 after buying an additional 455 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MTCH has been the subject of several recent research reports. Susquehanna lifted their price target on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Barclays cut their target price on Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. UBS Group lifted their price objective on shares of Match Group from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Citigroup reduced their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $35.44.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the sale, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company's stock.

Match Group Trading Down 1.0%

Shares of MTCH traded down $0.38 during mid-day trading on Friday, hitting $38.28. The company's stock had a trading volume of 3,219,524 shares, compared to its average volume of 5,100,994. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $39.20. The company's 50-day moving average is $33.05 and its 200-day moving average is $31.70. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.77 and a beta of 1.36.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. 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.