Match Group Inc. $MTCH Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Match Group Inc. (MTCH) by 10.3%, selling 9,719 shares during the 1st quarter, leaving it with 84,221 shares valued at approximately $2.63 million.
• Match Group announced a quarterly dividend of $0.19 per share, with the ex-dividend date set for October 3rd, translating to an annual yield of 2.1%.
• Analysts have varying views on Match Group's stock, with five rating it as a Buy and fifteen as Hold, while the average price target currently stands at $35.44.

State of New Jersey Common Pension Fund D lowered its stake in Match Group Inc. (NASDAQ:MTCH - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 84,221 shares of the technology company's stock after selling 9,719 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Match Group were worth $2,628,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Applied Finance Capital Management LLC lifted its holdings in Match Group by 5.1% during the first quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock valued at $215,000 after purchasing an additional 334 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Match Group by 3.9% during the 1st quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company's stock worth $321,000 after purchasing an additional 388 shares during the last quarter. Assetmark Inc. lifted its stake in Match Group by 14.1% in the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company's stock valued at $108,000 after buying an additional 429 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Match Group by 2.7% in the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company's stock worth $546,000 after buying an additional 455 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Match Group by 2.9% in the 4th quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company's stock worth $677,000 after buying an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction dated Thursday, August 7th. The shares were 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 of the company's stock, valued at $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.64% of the company's stock.

Match Group Trading Up 1.4%

NASDAQ:MTCH traded up $0.51 during trading hours on Friday, hitting $37.30. The company had a trading volume of 3,896,474 shares, compared to its average volume of 5,160,995. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The company has a market cap of $8.98 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.74 and a beta of 1.36. The company has a 50-day moving average of $33.67 and a 200 day moving average of $31.74.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.0%. Match Group's dividend payout ratio is currently 37.44%.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of research analyst reports. Citigroup reduced their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. 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. UBS Group increased their price objective on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna lifted their target price on shares of Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, Match Group presently has a consensus rating of "Hold" and an average target price of $35.44.

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.