First Manhattan CO. LLC. Grows Stake in Match Group, Inc. (NASDAQ:MTCH)

First Manhattan CO. LLC. raised its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,466,894 shares of the technology company's stock after buying an additional 63,238 shares during the quarter. First Manhattan CO. LLC. owned about 1.38% of Match Group worth $113,402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in Match Group by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company's stock worth $10,459,000 after buying an additional 22,887 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Match Group in the 4th quarter worth about $250,000. Czech National Bank increased its holdings in Match Group by 3.6% in the 4th quarter. Czech National Bank now owns 54,442 shares of the technology company's stock worth $1,781,000 after buying an additional 1,907 shares in the last quarter. Palliser Capital UK Ltd increased its holdings in Match Group by 76.9% in the 4th quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company's stock worth $7,641,000 after buying an additional 101,563 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new stake in Match Group in the 4th quarter worth about $240,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Trading Down 1.1%

MTCH traded down $0.29 on Friday, hitting $27.18. 9,455,923 shares of the company were exchanged, compared to its average volume of 4,901,541. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. The firm has a 50-day moving average price of $30.05 and a two-hundred day moving average price of $32.04.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, July 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.80%. Match Group's dividend payout ratio is currently 37.62%.

Analyst Ratings Changes

MTCH has been the subject of a number of recent research reports. Stifel Nicolaus cut 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. Evercore ISI downgraded Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a research note on Thursday, February 6th. Bank of America cut their price target 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. BTIG Research downgraded Match Group from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Finally, Citigroup cut their price target on Match Group from $31.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.06.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. This represents a 99.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.77% of the company's stock.

Match Group Company 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.