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Rafferty Asset Management LLC lowered its stake in shares of Match Group Inc. (NASDAQ:MTCH – Free Report) by 20.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,315 shares of the technology company’s stock after selling 4,483 shares during the quarter. Rafferty Asset Management LLC’s holdings in Match Group were worth $540,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Starboard Value LP boosted its position in Match Group by 53.4% during the 4th quarter. Starboard Value LP now owns 14,656,970 shares of the technology company’s stock valued at $479,429,000 after purchasing an additional 5,100,824 shares during the period. Ameriprise Financial Inc. boosted its position in Match Group by 17.4% during the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock valued at $384,808,000 after purchasing an additional 1,822,362 shares during the period. Invesco Ltd. boosted its position in Match Group by 64.2% during the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock valued at $298,451,000 after purchasing an additional 3,738,509 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Match Group by 10.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 5,573,084 shares of the technology company’s stock valued at $173,880,000 after purchasing an additional 506,763 shares during the period. Finally, Nuveen LLC acquired a new position in Match Group during the 1st quarter valued at approximately $142,281,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Match Group Stock Down 1.0%
Shares of Match Group stock opened at $36.98 on Wednesday. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The business has a fifty day simple moving average of $34.59 and a 200-day simple moving average of $31.90. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20.
Match Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be issued a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. Match Group’s dividend payout ratio is 37.44%.
Wall Street Analyst Weigh In
MTCH has been the subject of a number of analyst reports. Barclays reduced their price objective on Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Wells Fargo & Company increased their price target on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, June 27th. JPMorgan Chase & Co. increased their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Susquehanna increased their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Finally, Citigroup decreased 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, May 9th. Five analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.44.
Read Our Latest Stock Report on MTCH
Insider Buying and Selling at Match Group
In other news, Director Stephen Bailey sold 12,500 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the sale, the director owned 8,058 shares in the company, valued at $295,889.76. This represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mcdaniel sold 5,423 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director owned 21,926 shares of the company’s stock, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.
Match Group 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.
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