Match Group Inc. (NASDAQ:MTCH) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Match Group by 33.1% in the first quarter, now owning approximately $16.46 million worth of shares.
• CEO Spencer M. Rascoff purchased 70,885 shares of Match Group stock, increasing his position by 106.45%.
• Match Group's quarterly dividend of $0.19 per share has an annual yield of 2.22% and is based on a 37.62% dividend payout ratio.

TD Asset Management Inc lowered its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 33.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 527,701 shares of the technology company's stock after selling 261,542 shares during the period. TD Asset Management Inc owned 0.21% of Match Group worth $16,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Applied Finance Capital Management LLC raised its stake in shares of Match Group by 5.1% during the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company's stock valued at $215,000 after buying an additional 334 shares during the last quarter. Fulton Bank N.A. raised its stake 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 valued at $321,000 after buying an additional 388 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock valued at $757,000 after buying an additional 415 shares during the last quarter. Assetmark Inc. raised its stake in shares of Match Group by 14.1% during 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 during the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of Match Group by 2.7% during the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company's stock valued at $546,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Trading Down 2.0%

Shares of MTCH stock traded down $0.67 on Friday, reaching $33.60. 6,389,421 shares of the stock were exchanged, compared to its average volume of 3,513,019. The business's 50 day moving average price is $31.86 and its 200 day moving average price is $31.48. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.76 and a beta of 1.36. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $38.77.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, July 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Match Group's payout ratio is presently 37.62%.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff acquired 70,885 shares of the company's stock in a transaction on Friday, May 9th. The shares were bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer owned 137,478 shares in the company, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Match Group from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. UBS Group raised their price objective on Match Group from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Bank of America dropped their price objective on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company raised their price objective on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Finally, Evercore ISI reissued a "cautious" rating and issued a $32.00 price objective on shares of Match Group in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $36.06.

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.