Retirement Systems of Alabama Cuts Stock Holdings in Match Group Inc. (NASDAQ:MTCH)

Retirement Systems of Alabama lessened its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,917,733 shares of the technology company's stock after selling 21,661 shares during the quarter. Retirement Systems of Alabama owned about 0.77% of Match Group worth $59,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTCH. NBC Securities Inc. purchased a new stake in Match Group in the first quarter worth about $37,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group in the fourth quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock worth $50,000 after buying an additional 1,512 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after buying an additional 378 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Match Group in the first quarter worth approximately $103,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MTCH. Barclays dropped their target price on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Citigroup dropped their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. JPMorgan Chase & Co. dropped their target price on shares of Match Group from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Bank of America lowered their price objective on shares of Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Evercore ISI restated a "cautious" rating and set a $32.00 price objective on shares of Match Group in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $35.91.

Insider Transactions at Match Group

In other news, CEO Spencer M. Rascoff acquired 70,885 shares of Match Group stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer now directly owns 137,478 shares in the company, valued at approximately $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.64% of the company's stock.

Match Group Trading Up 1.2%

MTCH stock traded up $0.36 during midday trading on Monday, reaching $30.95. 2,880,103 shares of the company's stock traded hands, compared to its average volume of 4,877,450. The stock's 50-day moving average is $29.94 and its 200 day moving average is $31.39. The stock has a market cap of $7.75 billion, a P/E ratio of 15.32, a PEG ratio of 0.70 and a beta of 1.36. Match Group Inc. has a 52-week low of $26.39 and a 52-week high of $38.84.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.46%. Match Group's dividend payout ratio (DPR) is presently 37.62%.

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.