Match Group Inc. (NASDAQ:MTCH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,905 shares of the technology company’s stock after selling 1,338 shares during the period. Principal Financial Group Inc. owned about 0.11% of Match Group worth $8,827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. NBC Securities Inc. purchased a new position in Match Group during the first quarter worth approximately $37,000. Canada Post Corp Registered Pension Plan purchased a new position in Match Group during the fourth quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after acquiring an additional 1,512 shares in the last quarter. Mather Group LLC. lifted its position in shares of Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock valued at $79,000 after acquiring an additional 1,434 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of Match Group in the first quarter valued at approximately $103,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTCH. UBS Group decreased their target price on Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Citigroup reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective 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. Bank of America reduced their price objective 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, Morgan Stanley reduced their price objective 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and an average price target of $35.96.

Match Group Price Performance

Shares of NASDAQ:MTCH opened at $32.25 on Tuesday. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84. The business has a 50-day moving average of $30.63 and a two-hundred day moving average of $31.35. The stock has a market capitalization of $8.08 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.72 and a beta of 1.34.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.36%. The ex-dividend date is Thursday, July 3rd. Match Group’s dividend payout ratio is 37.62%.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff purchased 70,885 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the purchase, the chief executive officer directly owned 137,478 shares in the company, valued at $3,856,257.90. This trade represents a 106.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.64% of the company’s stock.

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.