Geode Capital Management LLC Sells 68,892 Shares of Match Group Inc. $MTCH

Geode Capital Management LLC decreased its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,354,241 shares of the technology company’s stock after selling 68,892 shares during the period. Geode Capital Management LLC’s holdings in Match Group were worth $204,827,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp boosted its holdings in shares of Match Group by 14.6% during the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock worth $680,826,000 after buying an additional 2,461,025 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Match Group by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock worth $385,590,000 after buying an additional 162,330 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Match Group by 1,163.7% during the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock worth $216,791,000 after buying an additional 5,652,174 shares during the period. LSV Asset Management boosted its holdings in shares of Match Group by 18.3% during the 4th quarter. LSV Asset Management now owns 5,644,584 shares of the technology company’s stock worth $182,264,000 after buying an additional 873,804 shares during the period. Finally, DNB Asset Management AS boosted its holdings in shares of Match Group by 32.9% during the 4th quarter. DNB Asset Management AS now owns 3,431,061 shares of the technology company’s stock worth $110,789,000 after buying an additional 849,472 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the completion of the sale, the director owned 16,218 shares of the company’s stock, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.64% of the company’s stock.

Match Group Trading Down 3.9%

Shares of Match Group stock opened at $35.32 on Wednesday. The company has a 50 day moving average of $34.46 and a 200-day moving average of $32.80. Match Group Inc. has a 1-year low of $28.81 and a 1-year high of $39.20. The company has a market cap of $8.24 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.59 and a beta of 1.33.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, July 7th. Match Group’s dividend payout ratio is 30.53%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings raised shares of Match Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Truist Financial set a $37.00 target price on shares of Match Group in a report on Wednesday, May 6th. UBS Group lifted their target price on shares of Match Group from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Citigroup lifted their target price on shares of Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Match Group presently has a consensus rating of “Hold” and an average target price of $41.07.

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.