Northwestern Mutual Wealth Management Co. Cuts Stock Holdings in Match Group Inc. $MTCH

Key Points

• Northwestern Mutual Wealth Management Co. significantly reduced its stake in Match Group Inc. by 95.2%, leaving them with only 4,369 shares after selling 86,594 shares during Q1.
• Match Group announced a quarterly dividend of $0.19 per share, with a payout ratio of 37.44%, scheduled to be paid on October 17th.
• Analysts have revised their price targets for Match Group, with a new consensus price of $35.44, as recent upgrades and downgrades reflect mixed sentiments about the stock's performance.

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 95.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,369 shares of the technology company's stock after selling 86,594 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Match Group were worth $136,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MTCH. Starboard Value LP lifted its position in shares of Match Group by 53.4% during the fourth quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after acquiring an additional 5,100,824 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Match Group during the first quarter worth $142,281,000. Invesco Ltd. lifted its position in shares of Match Group by 64.2% during the first quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock worth $298,451,000 after acquiring an additional 3,738,509 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Match Group by 17.4% during the first quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock worth $384,808,000 after acquiring an additional 1,822,362 shares in the last quarter. Finally, LSV Asset Management lifted its position in shares of Match Group by 126.1% during the first quarter. LSV Asset Management now owns 1,679,575 shares of the technology company's stock worth $52,403,000 after acquiring an additional 936,753 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Stock Performance

MTCH traded up $0.60 during trading on Monday, reaching $38.77. The stock had a trading volume of 4,217,958 shares, compared to its average volume of 3,267,969. The stock has a market cap of $9.33 billion, a PE ratio of 19.10, a PEG ratio of 0.76 and a beta of 1.36. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The business has a 50-day moving average of $35.16 and a 200-day moving average of $31.99.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's dividend payout ratio is currently 37.44%.

Insider Activity at Match Group

In related news, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the transaction, the chief accounting officer owned 23,240 shares of the company's stock, valued at $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Bailey sold 12,500 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. This represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,454 shares of company stock valued at $907,839 over the last 90 days. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on MTCH shares. Wells Fargo & Company increased their target price on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Susquehanna upped their price target on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Evercore ISI upped their price target on shares of Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.