Janney Montgomery Scott LLC Has $1.34 Million Stock Position in Match Group Inc. (NASDAQ:MTCH)

Janney Montgomery Scott LLC lessened its stake in Match Group Inc. (NASDAQ:MTCH) by 16.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,049 shares of the technology company’s stock after selling 8,336 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Match Group were worth $1,343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fifth Third Bancorp raised its stake in Match Group by 11.2% in the first quarter. Fifth Third Bancorp now owns 6,376 shares of the technology company’s stock valued at $199,000 after purchasing an additional 640 shares in the last quarter. CX Institutional acquired a new position in Match Group in the first quarter valued at about $103,000. SG Americas Securities LLC raised its stake in Match Group by 104.0% in the first quarter. SG Americas Securities LLC now owns 23,354 shares of the technology company’s stock valued at $729,000 after purchasing an additional 614,561 shares in the last quarter. Abacus FCF Advisors LLC raised its stake in Match Group by 130.8% in the first quarter. Abacus FCF Advisors LLC now owns 134,934 shares of the technology company’s stock valued at $4,210,000 after purchasing an additional 76,465 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Match Group by 79.2% in the first quarter. GAMMA Investing LLC now owns 9,255 shares of the technology company’s stock valued at $289,000 after purchasing an additional 4,090 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $28.05 per share, for a total transaction of $1,988,324.25. Following the completion of the acquisition, the chief executive officer now owns 137,478 shares of the company’s stock, valued at $3,856,257.90. This represents a 106.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MTCH. JPMorgan Chase & Co. decreased their target price on Match Group from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Evercore ISI reiterated a “cautious” rating and issued a $32.00 target price on shares of Match Group in a research report on Wednesday, May 21st. Morgan Stanley decreased their target price on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Bank of America decreased their target price on Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Finally, Citigroup decreased their target price on Match Group from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.96.

Match Group Stock Up 1.4%

Shares of NASDAQ:MTCH opened at $30.85 on Friday. The stock’s 50 day moving average is $30.10 and its 200-day moving average is $31.35. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.69 and a beta of 1.35.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group’s dividend payout ratio (DPR) is currently 37.62%.

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.