Universal Beteiligungs und Servicegesellschaft mbH Sells 62,498 Shares of Match Group Inc. (NASDAQ:MTCH)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH sold 62,498 shares of Match Group Inc., reducing their holdings by 39.9%, and now owns 94,185 shares valued at approximately $2.94 million.
• Recent price targets for Match Group's stock have been adjusted downwards by analysts, with Morgan Stanley setting a target of $32 and JPMorgan Chase reducing theirs to $28.
• Match Group announced a quarterly dividend of $0.19 per share, representing an annual yield of 2.23%, with a payout ratio of 37.62%.

Universal Beteiligungs und Servicegesellschaft mbH lessened its stake in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 39.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,185 shares of the technology company's stock after selling 62,498 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Match Group were worth $2,939,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Match Group by 133.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 36,183 shares of the technology company's stock worth $1,184,000 after purchasing an additional 20,713 shares in the last quarter. Norges Bank acquired a new position in Match Group during the fourth quarter worth $112,176,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Match Group by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company's stock valued at $2,445,000 after buying an additional 478 shares in the last quarter. Allstate Corp acquired a new position in shares of Match Group during the fourth quarter valued at about $233,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Match Group by 266.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,627 shares of the technology company's stock valued at $307,000 after buying an additional 7,000 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MTCH shares. Wall Street Zen lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Citigroup lowered their price objective on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Evercore ISI reaffirmed a "cautious" rating and set a $32.00 target price on shares of Match Group in a research report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price target on Match Group from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, 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 research note on Friday, June 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Match Group has an average rating of "Hold" and an average price target of $36.06.

Match Group Price Performance

NASDAQ:MTCH traded down $0.67 on Friday, reaching $33.60. 6,389,421 shares of the company's stock were exchanged, compared to its average volume of 3,513,019. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.76 and a beta of 1.36. The stock has a fifty day simple moving average of $31.77 and a 200-day simple moving average of $31.46. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $38.77.

Match Group Dividend Announcement

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

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the business's 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 acquisition, the chief executive officer directly owned 137,478 shares of the company's stock, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.64% of the stock is owned by 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.