Skandinaviska Enskilda Banken AB publ Sells 61,210 Shares of Match Group Inc. (NASDAQ:MTCH)

Skandinaviska Enskilda Banken AB publ lessened its holdings in Match Group Inc. (NASDAQ:MTCH) by 55.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,061 shares of the technology company’s stock after selling 61,210 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Match Group were worth $1,530,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Match Group in the 1st quarter valued at about $37,000. Canada Post Corp Registered Pension Plan acquired a new stake in Match Group in the 4th quarter valued at $43,000. Kayne Anderson Rudnick Investment Management LLC increased its position 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 worth $50,000 after acquiring an additional 1,512 shares in the last quarter. Mather Group LLC. increased its holdings in Match Group by 130.1% during the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock worth $79,000 after purchasing an additional 1,434 shares in the last quarter. Finally, CX Institutional purchased a new stake in Match Group in the 1st quarter valued at $103,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Match Group

In other Match Group news, CEO Spencer M. Rascoff purchased 70,885 shares of the stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the acquisition, the chief executive officer directly owned 137,478 shares in the company, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of several recent analyst reports. Evercore ISI reiterated a “cautious” rating and issued a $32.00 target price on shares of Match Group in a research note on Wednesday, May 21st. Wall Street Zen lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. JPMorgan Chase & Co. reduced their price target on shares of Match Group from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Citigroup lowered their price objective on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Finally, UBS Group increased their target price on shares of Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and an average price target of $36.16.

Match Group Price Performance

Shares of Match Group stock opened at $34.06 on Wednesday. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $38.84. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.75 and a beta of 1.34. The company has a 50-day moving average of $31.57 and a 200 day moving average of $31.42.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a $0.19 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.23%. Match Group’s dividend payout ratio (DPR) is presently 37.62%.

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.