Maryland State Retirement & Pension System Sells 2,213 Shares of Match Group Inc. (NASDAQ:MTCH)

Maryland State Retirement & Pension System reduced its position in shares of Match Group Inc. (NASDAQ:MTCH) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,013 shares of the technology company’s stock after selling 2,213 shares during the period. Maryland State Retirement & Pension System’s holdings in Match Group were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stratos Wealth Partners LTD. grew its holdings in shares of Match Group by 5.0% during the first quarter. Stratos Wealth Partners LTD. now owns 19,671 shares of the technology company’s stock worth $614,000 after purchasing an additional 939 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Match Group by 7.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,132 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 2,429 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Match Group by 34.0% during the first quarter. QRG Capital Management Inc. now owns 15,897 shares of the technology company’s stock worth $496,000 after purchasing an additional 4,035 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Match Group by 79.2% during the first quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company’s stock worth $289,000 after purchasing an additional 4,090 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Match Group by 9.3% during the first quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company’s stock worth $17,272,000 after purchasing an additional 47,137 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Stock Down 1.0%

NASDAQ:MTCH opened at $38.28 on Friday. The company has a fifty day moving average of $33.05 and a 200-day moving average of $31.67. The firm has a market capitalization of $9.59 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.76 and a beta of 1.36. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20.

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, October 3rd. Match Group’s dividend payout ratio is presently 37.44%.

Insider Buying and Selling at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director directly owned 8,058 shares of the company’s stock, valued at $295,889.76. This represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTCH has been the topic of several research reports. Barclays reduced their price target on Match Group from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Citigroup cut their price objective on Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Susquehanna lifted their price objective on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Bank of America cut their price objective on Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Finally, Evercore ISI lifted their price objective on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and an average price target of $35.44.

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.