Penn Davis Mcfarland Inc. Trims Stock Holdings in Match Group Inc. $MTCH

Penn Davis Mcfarland Inc. lowered its stake in Match Group Inc. (NASDAQ:MTCH) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 483,700 shares of the technology company’s stock after selling 5,678 shares during the quarter. Match Group comprises about 1.7% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 21st biggest holding. Penn Davis Mcfarland Inc. owned about 0.19% of Match Group worth $14,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Applied Finance Capital Management LLC increased its holdings in Match Group by 5.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company’s stock valued at $215,000 after purchasing an additional 334 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted 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 purchasing an additional 362 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Match Group by 3.9% during the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company’s stock worth $321,000 after buying an additional 388 shares during the period. Parallel Advisors LLC grew its stake in shares of Match Group by 18.5% in the second 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 in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Match Group by 14.1% in the first quarter. Assetmark Inc. now owns 3,464 shares of the technology company’s stock valued at $108,000 after buying an additional 429 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTCH has been the topic of several research reports. Evercore ISI increased their target price 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. Wells Fargo & Company increased their price target 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 company a “neutral” rating in a research note on Wednesday, July 23rd. Susquehanna lifted their price objective on shares of Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their target price 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. Five research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.44.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 12,500 shares of the 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 transaction, the director owned 8,058 shares of the company’s stock, valued at $295,889.76. This represents a 60.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the sale, the chief accounting officer owned 23,240 shares in the company, valued at approximately $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,454 shares of company stock valued at $907,839. Insiders own 0.64% of the company’s stock.

Match Group Stock Down 2.3%

Shares of NASDAQ:MTCH opened at $36.10 on Thursday. The firm’s 50 day moving average price is $36.39 and its 200 day moving average price is $32.46. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20.

Match Group Announces Dividend

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

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.