Frontier Capital Management Co. LLC Reduces Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Frontier Capital Management Co. LLC lessened its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 75.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 298,825 shares of the technology company's stock after selling 916,738 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.12% of Match Group worth $9,775,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of Match Group by 94.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company's stock valued at $1,947,000 after buying an additional 28,884 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after buying an additional 939,078 shares during the last quarter. Penn Davis Mcfarland Inc. lifted its position in shares of Match Group by 1.8% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 478,913 shares of the technology company's stock valued at $15,665,000 after buying an additional 8,414 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock valued at $87,267,000 after acquiring an additional 69,947 shares in the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Match Group during the fourth quarter valued at about $250,000. Institutional investors own 94.05% of the company's stock.

Match Group Stock Down 0.9%

NASDAQ:MTCH traded down $0.27 on Thursday, hitting $29.14. The stock had a trading volume of 1,495,272 shares, compared to its average volume of 5,072,335. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a fifty day moving average price of $29.87 and a two-hundred day moving average price of $31.94.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group's payout ratio is currently 37.62%.

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the stock in a transaction on 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 transaction, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This represents a 99.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Spencer M. Rascoff purchased 70,885 shares of the company's stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the transaction, the chief executive officer now owns 137,478 shares of the company's stock, valued at approximately $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MTCH. Citigroup cut their price target on shares of Match Group from $31.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. StockNews.com upgraded shares of Match Group from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Evercore ISI cut their price target on shares of Match Group from $35.00 to $32.00 and set an "in-line" rating on the stock in a report on Monday. Stifel Nicolaus cut their price target on shares of Match Group from $35.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Finally, Barclays cut their price target on shares of Match Group from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $35.91.

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.