Northwestern Mutual Wealth Management Co. Decreases Holdings in Match Group Inc. $MTCH

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 95.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,369 shares of the technology company’s stock after selling 86,594 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Match Group were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its position in Match Group by 5.0% during the 1st 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 period. Mirae Asset Global Investments Co. Ltd. boosted its position in Match Group by 7.9% during the 1st 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 period. QRG Capital Management Inc. boosted its position in Match Group by 34.0% during the 1st 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 period. GAMMA Investing LLC boosted its position in Match Group by 79.2% in the 1st quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company’s stock valued at $289,000 after buying an additional 4,090 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Match Group by 9.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 553,599 shares of the technology company’s stock valued at $17,272,000 after buying an additional 47,137 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MTCH shares. Barclays decreased their price objective on shares of Match Group from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Evercore ISI upped their price objective on shares of Match Group from $32.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. Wells Fargo & Company upped their price objective on shares of Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. Wall Street Zen cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, UBS Group upped their price objective on shares of Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Five research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.44.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total transaction of $459,000.00. Following the transaction, the director owned 8,058 shares of the company’s stock, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total transaction of $245,043.12. Following the sale, the chief accounting officer owned 23,240 shares in the company, valued at approximately $871,964.80. This trade represents a 21.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,454 shares of company stock valued at $907,839. Insiders own 0.64% of the company’s stock.

Match Group Stock Performance

Shares of MTCH stock opened at $38.17 on Friday. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The company’s 50-day simple moving average is $35.01 and its 200-day simple moving average is $31.98. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 0.74 and a beta of 1.36.

Match Group Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.0%. Match Group’s dividend payout ratio (DPR) is presently 37.44%.

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.