Logan Capital Management Inc. Sells 6,518 Shares of Match Group Inc. $MTCH

Logan Capital Management Inc. trimmed its position in shares of Match Group Inc. (NASDAQ:MTCH) by 35.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,964 shares of the technology company’s stock after selling 6,518 shares during the quarter. Logan Capital Management Inc.’s holdings in Match Group were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MTCH. Nuveen LLC bought a new position in shares of Match Group during the 1st quarter valued at $142,281,000. Invesco Ltd. increased its stake in shares of Match Group by 64.2% in the 1st quarter. Invesco Ltd. now owns 9,565,726 shares of the technology company’s stock worth $298,451,000 after purchasing an additional 3,738,509 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Match Group in the 1st quarter worth $77,783,000. Ameriprise Financial Inc. increased its stake in shares of Match Group by 17.4% in the 1st quarter. Ameriprise Financial Inc. now owns 12,321,485 shares of the technology company’s stock worth $384,808,000 after purchasing an additional 1,822,362 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Match Group by 126.1% in the 1st quarter. LSV Asset Management now owns 1,679,575 shares of the technology company’s stock worth $52,403,000 after purchasing an additional 936,753 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Susquehanna upped their price objective on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. UBS Group upped their price objective on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 23rd. Morgan Stanley reduced their price objective on Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Evercore ISI upped their price objective on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.56.

Match Group Stock Down 0.4%

NASDAQ:MTCH opened at $32.68 on Wednesday. The business’s 50-day simple moving average is $35.58 and its two-hundred day simple moving average is $33.02. The stock has a market cap of $7.86 billion, a PE ratio of 16.10, a P/E/G ratio of 0.62 and a beta of 1.38. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Match Group’s dividend payout ratio (DPR) is currently 37.44%.

Insider Buying and Selling at Match Group

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the firm’s stock in a transaction dated 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 directly owned 21,926 shares of the company’s stock, valued at $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Bailey sold 12,500 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the transaction, the director owned 8,058 shares of the company’s stock, valued at approximately $295,889.76. The trade was a 60.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,454 shares of company stock valued at $907,839 over the last ninety days. 0.64% of the stock is currently owned by company insiders.

About Match Group

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.