Match Group Inc. $MTCH Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its position in Match Group Inc. (NASDAQ:MTCH) by 30.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,196 shares of the technology company’s stock after selling 104,531 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.10% of Match Group worth $7,451,000 at the end of the most recent quarter.

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

Match Group Stock Performance

NASDAQ MTCH opened at $32.34 on Friday. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The stock has a market capitalization of $7.78 billion, a PE ratio of 15.93, a P/E/G ratio of 0.63 and a beta of 1.38. The stock has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $33.07.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, October 3rd. Match Group’s payout ratio is currently 37.44%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Susquehanna boosted their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. UBS Group boosted their price target on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Morgan Stanley reduced their price target on Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Finally, Evercore ISI boosted their price target on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.56.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 12,500 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 23,240 shares of the company’s stock, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 24,454 shares of company stock valued at $907,839. Insiders own 0.64% of the company’s stock.

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.