Retirement Systems of Alabama Has $59.83 Million Stake in Match Group Inc. (NASDAQ:MTCH)

Retirement Systems of Alabama reduced its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,917,733 shares of the technology company's stock after selling 21,661 shares during the period. Retirement Systems of Alabama owned approximately 0.77% of Match Group worth $59,833,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Starboard Value LP grew its stake in shares of Match Group by 53.4% in the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock worth $479,429,000 after acquiring an additional 5,100,824 shares in the last quarter. Ameriprise Financial Inc. grew its position in Match Group by 24.2% in the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company's stock worth $343,427,000 after purchasing an additional 2,042,677 shares in the last quarter. Invesco Ltd. increased its stake in Match Group by 25.3% in the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company's stock valued at $190,608,000 after buying an additional 1,174,889 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock worth $183,968,000 after buying an additional 2,952,470 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in shares of Match Group by 11.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,467,257 shares of the technology company's stock worth $178,834,000 after buying an additional 541,556 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analyst Weigh In

MTCH has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Citigroup reduced their target price on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Morgan Stanley lowered their price target on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. UBS Group reduced their price objective on Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.91.

Match Group Price Performance

NASDAQ:MTCH opened at $30.30 on Friday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50-day moving average of $29.85 and a 200 day moving average of $31.44. The firm has a market cap of $7.59 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, July 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

Insiders Place Their Bets

In other Match Group news, CEO Spencer M. Rascoff acquired 70,885 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the acquisition, the chief executive officer now 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.64% of the stock is owned by company insiders.

Match Group 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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