Jupiter Asset Management Ltd. Lowers Stake in Match Group Inc. (NASDAQ:MTCH)

Jupiter Asset Management Ltd. reduced its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 98.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,327 shares of the technology company’s stock after selling 1,376,866 shares during the period. Jupiter Asset Management Ltd.’s holdings in Match Group were worth $697,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in Match Group during the 1st quarter valued at about $37,000. Canada Post Corp Registered Pension Plan purchased a new position in Match Group in the fourth quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after buying an additional 1,512 shares during the last quarter. Mather Group LLC. raised its holdings in Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock worth $79,000 after buying an additional 1,434 shares during the last quarter. Finally, CX Institutional purchased a new position in Match Group in the first quarter worth about $103,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Match Group Trading Up 0.8%

Shares of NASDAQ MTCH opened at $33.88 on Tuesday. The firm has a 50 day moving average of $31.95 and a 200 day moving average of $31.47. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $38.77.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, July 3rd. Match Group’s payout ratio is 37.62%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MTCH shares. Morgan Stanley decreased their target price on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Stifel Nicolaus decreased 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. Citigroup decreased their target price on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, May 9th. UBS Group lifted their target price on shares of Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Finally, Bank of America decreased their target price on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.95.

Insider Transactions at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 70,885 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average cost of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the transaction, the chief executive officer owned 137,478 shares of the company’s stock, valued at $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.