Riverview Trust Co Trims Stake in Match Group Inc. $MTCH

Riverview Trust Co decreased its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 30.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,089 shares of the technology company’s stock after selling 470 shares during the period. Riverview Trust Co’s holdings in Match Group were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MTCH. Applied Finance Capital Management LLC raised its stake in Match Group by 5.1% in the first quarter. Applied Finance Capital Management LLC now owns 6,880 shares of the technology company’s stock valued at $215,000 after buying an additional 334 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 valued at $31,000 after acquiring an additional 362 shares in the last quarter. Fulton Bank N.A. increased its holdings 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 valued at $321,000 after acquiring an additional 388 shares in the last quarter. Parallel Advisors LLC grew its position in Match Group by 18.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock worth $77,000 after purchasing an additional 390 shares during the last quarter. Finally, Assetmark Inc. grew its position in Match Group by 14.1% during the 1st quarter. Assetmark Inc. now owns 3,464 shares of the technology company’s stock worth $108,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Stock Down 2.0%

Shares of MTCH opened at $34.63 on Thursday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.70 and a beta of 1.38. The stock’s 50-day moving average price is $36.66 and its 200-day moving average price is $32.62.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued 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 2.2%. Match Group’s payout ratio is presently 37.44%.

Insider Activity

In related news, Director Ann Mcdaniel sold 5,423 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were 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 in the company, valued at approximately $823,979.08. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $245,043.12. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 24,454 shares of company stock valued at $907,839 in the last three months. 0.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.