Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC decreased its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 75.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 298,825 shares of the technology company’s stock after selling 916,738 shares during the period. Frontier Capital Management Co. LLC’s holdings in Match Group were worth $9,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTCH. Ameriprise Financial Inc. grew its holdings in Match Group by 24.2% in the 4th quarter. Ameriprise Financial Inc. now owns 10,499,123 shares of the technology company’s stock valued at $343,427,000 after buying an additional 2,042,677 shares during the period. Pacer Advisors Inc. grew its holdings in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock valued at $211,818,000 after purchasing an additional 939,078 shares during the period. Invesco Ltd. increased its position in Match Group by 25.3% during the fourth quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company’s stock worth $190,608,000 after purchasing an additional 1,174,889 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Match Group by 110.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company’s stock worth $183,968,000 after purchasing an additional 2,952,470 shares during the period. Finally, Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Match Group by 11.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 5,467,257 shares of the technology company’s stock valued at $178,834,000 after purchasing an additional 541,556 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

MTCH has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Barclays decreased their target price on Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Friday. HSBC lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on shares of Match Group from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Citigroup cut their target price on shares of Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Match Group presently has a consensus rating of “Hold” and an average price target of $36.06.

Match Group Stock Performance

MTCH opened at $27.18 on Friday. Match Group, Inc. has a 1-year low of $26.39 and a 1-year high of $38.84. The company has a 50-day moving average of $30.05 and a 200-day moving average of $32.12. The company has a market capitalization of $6.81 billion, a P/E ratio of 13.46, a PEG ratio of 0.82 and a beta of 1.42.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. As a group, sell-side analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, July 3rd. Match Group’s payout ratio is 37.62%.

Insider Activity

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

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.