Match Group Inc. $MTCH Stock Position Decreased by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC sold 35,266 shares of Match Group Inc., reducing its ownership by 19.2%, now holding 148,831 shares valued around $4.64 million.
• Match Group will pay a quarterly dividend of $0.19 per share on October 17th, representing a 2.0% yield based on an annualized basis.
• Analyst ratings for Match Group vary, with a consensus rating of "Hold" and an average price target of $35.44 according to recent research reports.

Redwood Investment Management LLC trimmed its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 148,831 shares of the technology company's stock after selling 35,266 shares during the period. Redwood Investment Management LLC owned 0.06% of Match Group worth $4,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MTCH. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Match Group by 652.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,415 shares of the technology company's stock valued at $356,000 after purchasing an additional 9,898 shares in the last quarter. Comerica Bank lifted its stake in shares of Match Group by 4.1% in the 1st quarter. Comerica Bank now owns 56,945 shares of the technology company's stock valued at $1,777,000 after purchasing an additional 2,230 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of Match Group in the 1st quarter valued at about $49,000. AlphaQuest LLC lifted its stake in shares of Match Group by 382.7% in the 1st quarter. AlphaQuest LLC now owns 8,186 shares of the technology company's stock valued at $255,000 after purchasing an additional 6,490 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Match Group by 17.4% in the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock valued at $384,808,000 after purchasing an additional 1,822,362 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on MTCH shares. Barclays reduced their price target 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. JPMorgan Chase & Co. boosted their price target on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Evercore ISI boosted their price target on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Wells Fargo & Company upped their target price on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Finally, Susquehanna upped 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. Five investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, Match Group has an average rating of "Hold" and a consensus price target of $35.44.

Match Group Stock Performance

Shares of NASDAQ MTCH traded up $0.30 during trading on Friday, reaching $37.34. The stock had a trading volume of 4,124,497 shares, compared to its average volume of 4,857,135. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The stock has a market cap of $8.98 billion, a PE ratio of 18.39, a P/E/G ratio of 0.73 and a beta of 1.36. The firm's 50 day moving average price is $34.35 and its two-hundred day moving average price is $31.87.

Match Group Announces Dividend

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

Insider Buying and Selling at Match Group

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director directly owned 21,926 shares of the company's stock, valued at approximately $823,979.08. This represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of Match Group 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 completion of the transaction, the director directly owned 8,058 shares in the company, valued at $295,889.76. This represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company's stock.

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.