Pinebridge Investments L.P. Sells 56,128 Shares of Match Group, Inc. (NASDAQ:MTCH)

Pinebridge Investments L.P. reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 86.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,835 shares of the technology company's stock after selling 56,128 shares during the period. Pinebridge Investments L.P.'s holdings in Match Group were worth $289,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mawer Investment Management Ltd. grew its position in Match Group by 716.8% during the fourth quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock worth $171,889,000 after buying an additional 4,611,598 shares in the last quarter. Norges Bank acquired a new position in shares of Match Group in the 4th quarter valued at approximately $112,176,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock worth $183,968,000 after buying an additional 2,952,470 shares in the last quarter. DnB Asset Management AS lifted its holdings in Match Group by 4,659.2% during the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company's stock worth $62,643,000 after buying an additional 1,874,853 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in shares of Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock valued at $62,804,000 after purchasing an additional 1,601,115 shares during the period. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In related news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MTCH shares. JPMorgan Chase & Co. reduced their price objective on shares of Match Group from $33.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. StockNews.com downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Friday, April 25th. BTIG Research lowered Match Group from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, UBS Group reduced their price objective on Match Group from $34.00 to $31.00 and set a "neutral" rating for the company in a report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Match Group presently has an average rating of "Hold" and a consensus target price of $36.44.

Match Group Stock Up 0.9 %

Shares of MTCH stock traded up $0.28 during trading on Friday, reaching $30.69. 3,805,909 shares of the company's stock were exchanged, compared to its average volume of 4,942,525. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The stock has a market capitalization of $7.69 billion, a PE ratio of 15.19, a PEG ratio of 0.82 and a beta of 1.49. The firm's fifty day moving average price is $30.32 and its 200-day moving average price is $32.48.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. As a group, analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.48%. Match Group's dividend payout ratio (DPR) is currently 37.62%.

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.