US Bancorp DE Sells 21,145 Shares of Match Group Inc. (NASDAQ:MTCH)

Key Points

• US Bancorp DE reduced its stake in Match Group Inc. by 33.1% in Q1, now holding 42,665 shares worth approximately $1.33 million.
• Match Group has announced a quarterly dividend of $0.19 per share, with the ex-dividend date set for October 3rd.
• Research analysts have a consensus rating of "Hold" on Match Group, with an average target price of $35.44.

US Bancorp DE decreased its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 33.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,665 shares of the technology company's stock after selling 21,145 shares during the quarter. US Bancorp DE's holdings in Match Group were worth $1,331,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seizert Capital Partners LLC grew its stake in shares of Match Group by 3.1% in the first quarter. Seizert Capital Partners LLC now owns 1,527,924 shares of the technology company's stock valued at $47,671,000 after buying an additional 45,957 shares in the last quarter. Arkadios Wealth Advisors bought a new position in shares of Match Group in the 1st quarter worth $468,000. Pacific Capital Partners Ltd purchased a new stake in shares of Match Group during the 1st quarter valued at $3,924,000. Bayforest Capital Ltd purchased a new stake in Match Group in the 1st quarter worth about $367,000. Finally, Vestcor Inc boosted its stake in Match Group by 171.1% in the 1st quarter. Vestcor Inc now owns 17,760 shares of the technology company's stock worth $554,000 after purchasing an additional 11,209 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 12,500 shares of the 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 completion of the transaction, the director owned 8,058 shares in the company, valued at $295,889.76. This trade represents 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 available through this link. Company insiders own 0.64% of the company's stock.

Match Group Stock Performance

Shares of NASDAQ MTCH traded up $1.40 during trading hours on Wednesday, hitting $37.82. 1,107,209 shares of the stock were exchanged, compared to its average volume of 4,799,902. The company has a market cap of $9.47 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.71 and a beta of 1.36. The company's fifty day simple moving average is $32.63 and its two-hundred day simple moving average is $31.60. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.77.

Match Group Announces Dividend

The business 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, October 3rd. Match Group's dividend payout ratio (DPR) is 37.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MTCH shares. Evercore ISI lifted their price target on Match Group from $32.00 to $38.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their target price on Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Stifel Nicolaus decreased their price target 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, Morgan Stanley cut their price target on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $35.44.

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.