Corebridge Financial Inc. Trims Stake in Match Group Inc. $MTCH

Corebridge Financial Inc. decreased its position in shares of Match Group Inc. (NASDAQ:MTCH) by 3.0% during the first quarter, Holdings Channel reports. The fund owned 57,686 shares of the technology company’s stock after selling 1,809 shares during the period. Corebridge Financial Inc.’s holdings in Match Group were worth $1,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MTCH. NBC Securities Inc. purchased a new position in shares of Match Group during the 1st quarter worth approximately $37,000. SVB Wealth LLC purchased a new position in shares of Match Group during the 1st quarter worth approximately $49,000. Summit Securities Group LLC bought a new stake in shares of Match Group in the 1st quarter worth approximately $54,000. Mather Group LLC. boosted its position in shares of Match Group by 130.1% in the 1st quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock worth $79,000 after purchasing an additional 1,434 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Match Group in the 1st quarter worth approximately $103,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MTCH shares. Barclays dropped their price target on Match Group from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. 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. 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. 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. Finally, Wells Fargo & Company boosted their price target on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.44.

Match Group Trading Down 1.0%

MTCH stock opened at $36.98 on Wednesday. The stock has a market capitalization of $8.90 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The stock’s 50 day simple moving average is $34.59 and its 200 day simple moving average is $31.90.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 annualized dividend and a yield of 2.1%. Match Group’s dividend payout ratio is 37.44%.

Insider Activity at Match Group

In related news, Director Ann Mcdaniel sold 5,423 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the transaction, the director directly owned 21,926 shares of the company’s stock, valued at approximately $823,979.08. This represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Bailey sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares in the company, valued at $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.