Logan Capital Management Inc. Sells 4,544 Shares of Match Group, Inc. (NASDAQ:MTCH)

Logan Capital Management Inc. reduced its position in shares of Match Group, Inc. (NASDAQ:MTCH) by 19.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,743 shares of the technology company’s stock after selling 4,544 shares during the quarter. Logan Capital Management Inc.’s holdings in Match Group were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. grew its stake in shares of Match Group by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock worth $10,459,000 after buying an additional 22,887 shares in the last quarter. Czech National Bank lifted its holdings in shares of Match Group by 3.6% in the 4th quarter. Czech National Bank now owns 54,442 shares of the technology company’s stock valued at $1,781,000 after acquiring an additional 1,907 shares during the last quarter. Palliser Capital UK Ltd grew its position in Match Group by 76.9% in the fourth quarter. Palliser Capital UK Ltd now owns 233,594 shares of the technology company’s stock worth $7,641,000 after acquiring an additional 101,563 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Match Group during the fourth quarter worth approximately $240,000. Finally, Merit Financial Group LLC bought a new stake in Match Group during the fourth quarter worth approximately $227,000. 94.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the purchase, the chief executive officer now directly owns 137,478 shares in the company, valued at $3,856,257.90. This represents a 106.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Gary Swidler sold 242,209 shares of the company’s stock in a transaction dated 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 $55,533.40. This represents a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

Match Group Price Performance

MTCH opened at $28.40 on Tuesday. The firm has a market capitalization of $7.11 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. The business’s 50-day moving average is $29.98 and its two-hundred day moving average is $31.98. Match Group, Inc. has a 1 year low of $26.39 and a 1 year high of $38.84.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, July 3rd. Match Group’s payout ratio is currently 37.62%.

Wall Street Analyst Weigh In

MTCH has been the subject of several analyst reports. BTIG Research lowered Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their price target on Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. UBS Group cut their price objective on shares of Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, HSBC cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Match Group currently has a consensus rating of “Hold” and a consensus target price of $35.91.

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.