Public Sector Pension Investment Board Decreases Stock Position in Match Group Inc. (NASDAQ:MTCH)

Key Points

• The Public Sector Pension Investment Board reduced its stake in Match Group Inc. by 3.7%, owning 645,305 shares valued at approximately $20.1 million after selling 24,750 shares.
• Match Group announced a quarterly dividend of $0.19 per share scheduled for payment on October 17th, representing an annual yield of 2.1%.
• Analysts have varying outlooks on Match Group, with price targets being raised by some, such as Susquehanna increasing their target to $45, while others like Bank of America have lowered theirs to $33.

Public Sector Pension Investment Board lessened its position in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 645,305 shares of the technology company's stock after selling 24,750 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.26% of Match Group worth $20,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Match Group during the 1st quarter worth $37,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Match Group during the 4th quarter worth $43,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Match Group by 30,240.0% in 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 purchasing an additional 1,512 shares during the last quarter. Mather Group LLC. raised its stake in Match Group by 130.1% in the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after purchasing an additional 1,434 shares during the last quarter. Finally, CX Institutional acquired a new position in Match Group in the 1st quarter valued at about $103,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Susquehanna boosted their target price on shares of Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Barclays cut their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Wells Fargo & Company lifted their price target on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Wall Street Zen cut Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Finally, Stifel Nicolaus lowered their price target on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.44.

Insiders Place Their Bets

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the company'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 value of $459,000.00. Following the completion of the transaction, the director owned 8,058 shares in the company, valued at $295,889.76. This represents a 60.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Match Group Stock Performance

Shares of NASDAQ:MTCH traded down $0.38 during trading on Friday, reaching $38.28. 3,219,524 shares of the stock were exchanged, compared to its average volume of 5,100,994. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The firm's 50-day moving average price is $33.05 and its 200 day moving average price is $31.70.

Match Group Announces Dividend

The business also recently declared 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. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio is currently 37.44%.

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.