CX Institutional Reduces Stock Position in Match Group Inc. $MTCH

CX Institutional cut its holdings in Match Group Inc. (NASDAQ:MTCH) by 47.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,721 shares of the technology company’s stock after selling 1,575 shares during the period. CX Institutional’s holdings in Match Group were worth $53,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in Match Group by 56.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after acquiring an additional 362 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Match Group in the 1st quarter worth approximately $37,000. SVB Wealth LLC purchased a new position in shares of Match Group in the 1st quarter worth approximately $49,000. Summit Securities Group LLC bought a new position in shares of Match Group during the 1st quarter valued at approximately $54,000. Finally, Parallel Advisors LLC raised its holdings in Match Group by 18.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock valued at $77,000 after buying an additional 390 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on MTCH shares. Evercore ISI boosted their price objective on shares of Match Group from $32.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Wells Fargo & Company increased their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. UBS Group raised their price objective on shares of Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Susquehanna upped their target price on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.44.

Insider Buying and Selling at Match Group

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of the business’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 transaction, the director directly owned 8,058 shares of the company’s stock, valued at approximately $295,889.76. The trade was a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,454 shares of company stock valued at $907,839. 0.64% of the stock is currently owned by corporate insiders.

Match Group Price Performance

Match Group stock opened at $35.89 on Friday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 0.72 and a beta of 1.36. The firm has a 50-day moving average of $36.46 and a two-hundred day moving average of $32.49. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.1%. Match Group’s dividend payout ratio is 37.44%.

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.