Corient Private Wealth LLC Sells 19,060 Shares of Match Group Inc. $MTCH

Corient Private Wealth LLC trimmed its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 65.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,028 shares of the technology company’s stock after selling 19,060 shares during the period. Corient Private Wealth LLC’s holdings in Match Group were worth $310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Match Group by 1.3% during the second quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after purchasing an additional 162,330 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in Match Group by 7.8% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 5,852,947 shares of the technology company’s stock worth $180,798,000 after buying an additional 424,232 shares in the last quarter. Neuberger Berman Group LLC raised its position in Match Group by 7.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,287,202 shares of the technology company’s stock worth $163,322,000 after buying an additional 349,963 shares during the last quarter. Norges Bank purchased a new position in Match Group in the 2nd quarter worth about $134,429,000. Finally, Jupiter Asset Management Ltd. lifted its stake in Match Group by 15,523.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock valued at $107,751,000 after acquiring an additional 3,465,877 shares during the period. Institutional investors own 94.05% of the company’s stock.

Match Group Trading Down 0.7%

Shares of NASDAQ MTCH opened at $32.16 on Wednesday. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20. The firm’s 50-day moving average price is $32.81 and its 200-day moving average price is $34.00. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.71 and a beta of 1.34.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. Match Group’s dividend payout ratio is 35.51%.

Insider Activity

In related news, CEO Spencer M. Rascoff bought 14,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of $31.84 per share, for a total transaction of $445,760.00. Following the acquisition, the chief executive officer owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Truist Financial reduced their price objective on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, November 5th. Evercore ISI lowered their target price on Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Wells Fargo & Company dropped their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.42.

Match Group Company Profile

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.