Pacer Advisors Inc. Lowers Stake in Match Group Inc. (NASDAQ:MTCH)

Key Points

• Pacer Advisors Inc. reduced its stake in Match Group Inc. by 64.6%, selling over 4 million shares, and now holds approximately 2.29 million shares worth about $71.58 million.
• The company has declared a quarterly dividend of $0.19 per share, translating to an annualized yield of 2.23%, with a payout ratio of 37.62%.
• Match Group stock has experienced a 0.6% increase recently, with a market capitalization of $8.53 billion and a price-to-earnings ratio of 16.87.

Pacer Advisors Inc. cut its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 64.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,294,286 shares of the technology company's stock after selling 4,181,350 shares during the period. Pacer Advisors Inc. owned about 0.92% of Match Group worth $71,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised its holdings in Match Group by 14.1% during the first quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock valued at $108,000 after acquiring an additional 429 shares during the period. Sound Shore Management Inc. CT grew its position in shares of Match Group by 64.9% during the first quarter. Sound Shore Management Inc. CT now owns 2,014,123 shares of the technology company's stock worth $62,841,000 after purchasing an additional 792,408 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Match Group during the first quarter worth about $779,000. Hussman Strategic Advisors Inc. bought a new stake in Match Group during the 1st quarter valued at approximately $983,000. Finally, Burns Matteson Capital Management LLC lifted its holdings in Match Group by 5.9% in the 1st quarter. Burns Matteson Capital Management LLC now owns 11,897 shares of the technology company's stock worth $371,000 after purchasing an additional 659 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Stock Up 0.6%

MTCH stock opened at $34.08 on Friday. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 0.75 and a beta of 1.34. The firm's fifty day simple moving average is $31.29 and its two-hundred day simple moving average is $31.37.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.23%. Match Group's payout ratio is 37.62%.

Insider Buying and Selling

In other 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 price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer directly owned 137,478 shares in the company, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTCH. Citigroup cut their price objective on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Evercore ISI reiterated a "cautious" rating and issued a $32.00 price target on shares of Match Group in a report on Wednesday, May 21st. UBS Group increased their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday. Bank of America cut their price objective on Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Wall Street Zen downgraded Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $36.16.

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.

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