Vident Advisory LLC Decreases Position in Match Group Inc. $MTCH

Key Points

• Vident Advisory LLC reduced its holdings in Match Group Inc. by 36.9% in the first quarter, now owning 28,650 shares valued at $894,000 after selling 16,720 shares.
• Several institutional investors have increased their positions in Match Group, with Starboard Value LP raising its stake by 53.4% to approximately $479 million.
• Match Group announced a quarterly dividend of $0.19 per share, reflecting a 2.0% yield, to be paid on October 17th.

Vident Advisory LLC lessened its holdings in shares of Match Group Inc. (NASDAQ:MTCH - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,650 shares of the technology company's stock after selling 16,720 shares during the period. Vident Advisory LLC's holdings in Match Group were worth $894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Starboard Value LP lifted its holdings in shares of Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company's stock valued at $479,429,000 after purchasing an additional 5,100,824 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Match Group by 17.4% during the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company's stock valued at $384,808,000 after purchasing an additional 1,822,362 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Match Group by 64.2% during the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company's stock valued at $298,451,000 after purchasing an additional 3,738,509 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Match Group by 10.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company's stock valued at $173,880,000 after purchasing an additional 506,763 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Match Group during the 1st quarter valued at $142,281,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTCH. Wells Fargo & Company increased 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. Evercore ISI raised their target price 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. Susquehanna raised their target price on Match Group from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Thursday, August 7th. Wall Street Zen lowered Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, JPMorgan Chase & Co. raised their target price on Match Group from $28.00 to $33.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, Match Group currently has an average rating of "Hold" and an average price target of $35.44.

Match Group Price Performance

MTCH opened at $37.39 on Friday. The company's 50 day simple moving average is $34.86 and its two-hundred day simple moving average is $31.96. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group's dividend payout ratio (DPR) is 37.44%.

Insider Buying and Selling

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director directly owned 21,926 shares of the company's stock, valued at $823,979.08. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of Match Group stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. 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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