Swiss National Bank Sells 229,900 Shares of Match Group Inc. (NASDAQ:MTCH)

Key Points

• The Swiss National Bank has reduced its stake in Match Group Inc. by 33.2%, selling 229,900 shares and now holds 462,271 shares, valued at approximately $14.4 million.
• Several other institutional investors have adjusted their positions in Match Group, contributing to a total institutional ownership of 94.05% of the company's stock.
• Match Group has announced a quarterly dividend of $0.19 per share, with an ex-dividend date of October 3rd, representing a 2.0% yield.

Swiss National Bank lowered its position in Match Group Inc. (NASDAQ:MTCH - Free Report) by 33.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 462,271 shares of the technology company's stock after selling 229,900 shares during the period. Swiss National Bank owned 0.18% of Match Group worth $14,423,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MTCH. Envestnet Asset Management Inc. raised its position in shares of Match Group by 271.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 506,462 shares of the technology company's stock worth $16,566,000 after acquiring an additional 370,058 shares in the last quarter. Cerity Partners LLC raised its position in shares of Match Group by 14.7% in the 4th quarter. Cerity Partners LLC now owns 66,035 shares of the technology company's stock worth $2,160,000 after acquiring an additional 8,461 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Match Group in the 4th quarter worth approximately $4,951,000. Treasurer of the State of North Carolina raised its position in shares of Match Group by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 113,029 shares of the technology company's stock worth $3,697,000 after acquiring an additional 710 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in Match Group by 56.1% during the 4th quarter. Sterling Capital Management LLC now owns 15,235 shares of the technology company's stock valued at $498,000 after buying an additional 5,473 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Evercore ISI lifted their price objective on Match Group from $32.00 to $38.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Match Group from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley lowered their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus lowered their price objective on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Susquehanna lifted their price objective on Match Group from $40.00 to $45.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $35.44.

Match Group Price Performance

Shares of MTCH opened at $38.74 on Thursday. Match Group Inc. has a one year low of $26.39 and a one year high of $38.85. The firm has a market capitalization of $9.70 billion, a P/E ratio of 19.08, a PEG ratio of 0.72 and a beta of 1.36. The business has a fifty day moving average of $32.78 and a 200 day moving average of $31.65.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.0%. Match Group's payout ratio is 37.44%.

Insiders Place Their Bets

In related news, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction 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 transaction, the director directly owned 8,058 shares in the company, valued at approximately $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.

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