Prudential PLC Trims Stock Position in Match Group Inc. $MTCH

Key Points

• Prudential PLC has significantly reduced its stake in Match Group Inc. by selling 17,011 shares, resulting in a 47.2% decrease in its holdings to 19,059 shares valued at approximately $595,000.
• Institutional investors collectively own 94.05% of Match Group's stock, reflecting strong interest from large financial entities.
• Match Group has announced a quarterly dividend of $0.19 per share, which is set to be paid on October 17th, indicating a commitment to returning value to shareholders.

Prudential PLC decreased its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 47.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,059 shares of the technology company's stock after selling 17,011 shares during the period. Prudential PLC's holdings in Match Group were worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of Match Group during the 1st quarter valued at about $37,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Match Group during the 4th quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after acquiring an additional 1,512 shares during the period. Mather Group LLC. grew its position in shares of Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after acquiring an additional 1,434 shares during the period. Finally, CX Institutional acquired a new stake in shares of Match Group during the 1st quarter valued at about $103,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MTCH shares. Stifel Nicolaus dropped their target price on Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna raised their target price on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Citigroup dropped their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Evercore ISI lifted their price objective on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, Match Group presently has a consensus rating of "Hold" and an average price target of $35.44.

Match Group Stock Down 1.3%

Shares of Match Group stock traded down $0.48 on Thursday, hitting $36.53. 704,755 shares of the company were exchanged, compared to its average volume of 4,765,705. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. The company has a 50-day moving average price of $33.40 and a 200 day moving average price of $31.74. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, October 3rd. Match Group's payout ratio is currently 37.44%.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director directly owned 8,058 shares in the company, valued at $295,889.76. The trade was a 60.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is currently owned by corporate insiders.

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.