Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario trimmed its position in Match Group, Inc. (NASDAQ:MTCH) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,776 shares of the technology company’s stock after selling 1,600 shares during the period. Investment Management Corp of Ontario’s holdings in Match Group were worth $222,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MTCH. Canada Post Corp Registered Pension Plan acquired a new stake in Match Group in the fourth quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Match Group by 30,240.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after acquiring an additional 1,512 shares during the last quarter. Assetmark Inc. lifted its position in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after acquiring an additional 378 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after acquiring an additional 2,652 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Match Group during the 4th quarter valued at $116,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Price Performance

Match Group stock opened at $28.80 on Wednesday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.82 and a beta of 1.42. Match Group, Inc. has a one year low of $26.39 and a one year high of $38.84. The company’s fifty day moving average price is $29.93 and its two-hundred day moving average price is $31.96.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, July 3rd. Match Group’s payout ratio is 37.62%.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm’s stock in a transaction 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 acquisition, the chief executive officer now directly owns 137,478 shares of the company’s stock, valued at approximately $3,856,257.90. The trade was a 106.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. This trade represents a 99.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the subject of a number of recent research reports. Evercore ISI cut their price objective on Match Group from $35.00 to $32.00 and set an “in-line” rating for the company in a research report on Monday. UBS Group cut their target price on shares of Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus cut their target price on shares of Match Group from $35.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. BTIG Research downgraded shares of Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, HSBC downgraded shares of Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.91.

Match Group Company 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.