Vanguard Group Inc. Sells 447,387 Shares of Match Group Inc. (NASDAQ:MTCH)

Key Points

• Vanguard Group Inc. reduced its stake in Match Group Inc. by 1.5% during the first quarter, selling 447,387 shares and now holds approximately 29.88 million shares valued at $932 million.
• Match Group has announced a quarterly dividend of $0.19 per share, with a dividend yield of 2.1%, payable on October 17th to stockholders of record as of October 3rd.
• Research analysis shows a consensus rating of "Hold" for Match Group with an average price target of $35.44, with various firms adjusting their ratings and price targets recently.

Vanguard Group Inc. lessened its holdings in Match Group Inc. (NASDAQ:MTCH - Free Report) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,881,597 shares of the technology company's stock after selling 447,387 shares during the period. Vanguard Group Inc. owned approximately 11.93% of Match Group worth $932,306,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Match Group by 13.4% in the fourth quarter. Wellington Management Group LLP now owns 9,647 shares of the technology company's stock valued at $316,000 after purchasing an additional 1,139 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Match Group by 271.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 506,462 shares of the technology company's stock valued at $16,566,000 after purchasing an additional 370,058 shares during the last quarter. Cerity Partners LLC raised its holdings in Match Group by 14.7% during the 4th quarter. Cerity Partners LLC now owns 66,035 shares of the technology company's stock valued at $2,160,000 after acquiring an additional 8,461 shares during the period. Raymond James Financial Inc. bought a new stake in Match Group during the 4th quarter valued at $4,951,000. Finally, Treasurer of the State of North Carolina raised its holdings in Match Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,029 shares of the technology company's stock valued at $3,697,000 after acquiring an additional 710 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Activity at Match Group

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 value of $459,000.00. Following the completion of the sale, the director 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 legal filing with the SEC, which is available at this link. 0.64% of the stock is owned by insiders.

Match Group Trading Down 0.5%

MTCH traded down $0.19 during trading on Friday, hitting $38.47. 1,506,296 shares of the company's stock traded hands, compared to its average volume of 4,793,628. The company's 50 day simple moving average is $32.93 and its two-hundred day simple moving average is $31.68. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.77 and a beta of 1.36.

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 annualized dividend and a dividend yield of 2.0%. Match Group's payout ratio is presently 37.44%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Morgan Stanley reduced their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Bank of America lowered their target price on Match Group from $36.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Citigroup decreased their target price on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, Evercore ISI increased their target price 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. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.