Manning & Napier Advisors LLC Reduces Stock Holdings in Match Group Inc. $MTCH

Manning & Napier Advisors LLC reduced its position in Match Group Inc. (NASDAQ:MTCH) by 12.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 237,287 shares of the technology company’s stock after selling 32,713 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.10% of Match Group worth $8,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in Match Group in the 3rd quarter valued at approximately $25,000. Employees Retirement System of Texas bought a new stake in Match Group during the 2nd quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Match Group by 56.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock valued at $31,000 after purchasing an additional 362 shares during the period. Caldwell Trust Co bought a new position in shares of Match Group in the second quarter worth $32,000. Finally, Quent Capital LLC purchased a new stake in shares of Match Group in the third quarter worth $37,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research report on Wednesday, October 8th. UBS Group set a $37.00 price objective on shares of Match Group in a research report on Tuesday. Raymond James Financial restated a “market perform” rating on shares of Match Group in a research report on Wednesday, December 10th. Wolfe Research set a $43.00 price objective on Match Group and gave the stock an “outperform” rating in a report on Monday, January 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 price target on shares of Match Group in a research note on Wednesday, December 10th. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.38.

Insider Activity at Match Group

In other news, CEO Spencer M. Rascoff purchased 14,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the transaction, the chief executive officer directly owned 165,128 shares of the company’s stock, valued at $5,257,675.52. This trade represents a 9.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.64% of the stock is currently owned by insiders.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $31.68 on Wednesday. Match Group Inc. has a 1 year low of $26.39 and a 1 year high of $39.20. The company’s 50-day moving average is $32.77 and its 200 day moving average is $34.11. The stock has a market capitalization of $7.48 billion, a P/E ratio of 14.80, a P/E/G ratio of 0.60 and a beta of 1.33.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. Match Group’s dividend payout ratio is currently 35.51%.

About Match Group

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.