Geode Capital Management LLC Sells 68,892 Shares of Match Group Inc. $MTCH

Geode Capital Management LLC trimmed its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,354,241 shares of the technology company’s stock after selling 68,892 shares during the quarter. Geode Capital Management LLC owned 2.69% of Match Group worth $204,827,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in Match Group by 14.6% in the 3rd quarter. State Street Corp now owns 19,275,943 shares of the technology company’s stock valued at $680,826,000 after acquiring an additional 2,461,025 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Match Group by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,483,815 shares of the technology company’s stock valued at $385,590,000 after acquiring an additional 162,330 shares in the last quarter. AQR Capital Management LLC lifted its position in Match Group by 1,163.7% in the 3rd quarter. AQR Capital Management LLC now owns 6,137,898 shares of the technology company’s stock valued at $216,791,000 after acquiring an additional 5,652,174 shares in the last quarter. LSV Asset Management lifted its position in Match Group by 18.3% in the 4th quarter. LSV Asset Management now owns 5,644,584 shares of the technology company’s stock valued at $182,264,000 after acquiring an additional 873,804 shares in the last quarter. Finally, DNB Asset Management AS lifted its position in Match Group by 32.9% in the 4th quarter. DNB Asset Management AS now owns 3,431,061 shares of the technology company’s stock valued at $110,789,000 after acquiring an additional 849,472 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on MTCH. Barclays boosted their price objective on shares of Match Group from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Piper Sandler set a $51.00 price objective on shares of Match Group in a research report on Wednesday, May 6th. Finally, Citigroup boosted their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.07.

Insider Buying and Selling at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total transaction of $184,767.54. Following the transaction, the director directly owned 16,218 shares in the company, valued at $582,874.92. The trade was a 24.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by corporate insiders.

Match Group Price Performance

Match Group stock opened at $35.32 on Wednesday. The firm has a market capitalization of $8.24 billion, a PE ratio of 13.48, a P/E/G ratio of 0.59 and a beta of 1.33. The company’s 50-day moving average is $34.46 and its 200-day moving average is $32.80. Match Group Inc. has a fifty-two week low of $28.81 and a fifty-two week high of $39.20.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, July 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.3%. Match Group’s payout ratio is currently 30.53%.

Match Group 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.