Wells Fargo & Company MN Sells 29,362 Shares of Match Group, Inc. (NASDAQ:MTCH)

Wells Fargo & Company MN cut its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,013 shares of the technology company's stock after selling 29,362 shares during the period. Wells Fargo & Company MN's holdings in Match Group were worth $3,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in Match Group by 94.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 59,510 shares of the technology company's stock worth $1,947,000 after buying an additional 28,884 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock worth $211,818,000 after buying an additional 939,078 shares during the period. Nordea Investment Management AB boosted its position in Match Group by 56.8% during the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company's stock valued at $78,733,000 after purchasing an additional 866,026 shares during the last quarter. Penn Davis Mcfarland Inc. raised its holdings in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 69,947 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Down 1.5 %

Shares of NASDAQ:MTCH traded down $0.44 during trading on Tuesday, hitting $29.73. 2,799,157 shares of the company's stock traded hands, compared to its average volume of 4,938,498. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. The company has a 50-day moving average price of $30.43 and a 200-day moving average price of $32.55. Match Group, Inc. has a 52 week low of $26.39 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS 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%. On average, analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. BTIG Research downgraded Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on Match Group from $33.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Evercore ISI lowered Match Group from an "outperform" rating to an "inline" rating and set a $35.00 target price for the company. in a research note on Thursday, February 6th. Finally, Stifel Nicolaus lowered their price objective on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $36.44.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the firm's 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 approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.