Match Group Inc. $MTCH Shares Sold by Novare Capital Management LLC

Novare Capital Management LLC trimmed its position in Match Group Inc. (NASDAQ:MTCH) by 91.9% during the third quarter, HoldingsChannel.com reports. The firm owned 6,200 shares of the technology company’s stock after selling 70,219 shares during the quarter. Novare Capital Management LLC’s holdings in Match Group were worth $219,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Match Group in the second quarter valued at approximately $134,429,000. Jupiter Asset Management Ltd. increased its position in shares of Match Group by 15,523.3% in the second quarter. Jupiter Asset Management Ltd. now owns 3,488,204 shares of the technology company’s stock worth $107,751,000 after acquiring an additional 3,465,877 shares in the last quarter. LSV Asset Management raised its stake in shares of Match Group by 106.2% in the 2nd quarter. LSV Asset Management now owns 3,462,831 shares of the technology company’s stock valued at $106,967,000 after acquiring an additional 1,783,256 shares during the period. Callodine Capital Management LP raised its stake in shares of Match Group by 67.3% in the 2nd quarter. Callodine Capital Management LP now owns 1,355,000 shares of the technology company’s stock valued at $41,856,000 after acquiring an additional 545,000 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Match Group by 21.2% during the 2nd quarter. Bank of America Corp DE now owns 2,908,669 shares of the technology company’s stock valued at $89,849,000 after acquiring an additional 507,901 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Match Group Price Performance

Shares of Match Group stock opened at $31.36 on Thursday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a market capitalization of $7.40 billion, a PE ratio of 14.65, a P/E/G ratio of 0.59 and a beta of 1.33. The business has a 50-day moving average of $32.54 and a 200-day moving average of $34.02.

Match Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

MTCH has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Morgan Stanley upped their target price on Match Group from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Wolfe Research set a $43.00 target price on Match Group and gave the company an “outperform” rating in a research note on Monday, January 5th. Evercore ISI reduced their price target on Match Group from $38.00 to $35.00 and set an “in-line” 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 report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Match Group presently has a consensus rating of “Hold” and a consensus price target of $36.38.

Insider Transactions at Match Group

In other Match Group news, CEO Spencer M. Rascoff bought 14,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $31.84 per share, with a total value of $445,760.00. Following the transaction, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by corporate insiders.

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.