Adage Capital Partners GP L.L.C. Cuts Holdings in Match Group, Inc. (NASDAQ:MTCH)

Adage Capital Partners GP L.L.C. decreased its position in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 62.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,616 shares of the technology company's stock after selling 58,500 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Match Group were worth $1,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Canada Post Corp Registered Pension Plan bought a new position in Match Group during the 4th quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Match Group by 30,240.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after buying an additional 1,512 shares during the period. Assetmark Inc. raised its holdings in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after purchasing an additional 2,652 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Match Group in the fourth quarter worth about $116,000. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on MTCH. StockNews.com lowered Match Group from a "buy" rating to a "hold" rating in a research report on Friday, April 25th. Stifel Nicolaus lowered their target price on shares of Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Barclays dropped their target price on Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, UBS Group cut their target price on Match Group from $34.00 to $31.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Match Group has an average rating of "Hold" and a consensus target price of $36.44.

Match Group Stock Performance

MTCH stock traded up $0.28 during trading on Friday, hitting $30.69. 3,805,909 shares of the company's stock traded hands, compared to its average volume of 4,944,951. Match Group, Inc. has a 52 week low of $26.39 and a 52 week high of $38.84. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.82 and a beta of 1.42. The business has a fifty day simple moving average of $30.28 and a 200 day simple moving average of $32.39.

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

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd were issued a $0.19 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.48%. Match Group's payout ratio is 37.62%.

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.