Cetera Investment Advisers Sells 13,432 Shares of Match Group Inc. (NASDAQ:MTCH)

Cetera Investment Advisers cut its holdings in shares of Match Group Inc. (NASDAQ:MTCH) by 29.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,764 shares of the technology company’s stock after selling 13,432 shares during the period. Cetera Investment Advisers’ holdings in Match Group were worth $1,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fulton Bank N.A. lifted its stake in Match Group by 3.9% during the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company’s stock worth $321,000 after purchasing an additional 388 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of Match Group by 1.8% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock valued at $757,000 after acquiring an additional 415 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Match Group by 2.7% in the 1st quarter. Penserra Capital Management LLC now owns 17,515 shares of the technology company’s stock valued at $546,000 after acquiring an additional 455 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Match Group by 2.9% in the 4th quarter. Janus Henderson Group PLC now owns 20,688 shares of the technology company’s stock valued at $677,000 after acquiring an additional 576 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Match Group by 11.2% in the 1st quarter. Fifth Third Bancorp now owns 6,376 shares of the technology company’s stock valued at $199,000 after acquiring an additional 640 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Match Group Trading Up 2.0%

Shares of Match Group stock opened at $36.42 on Wednesday. The business has a 50-day moving average price of $32.63 and a two-hundred day moving average price of $31.60. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $38.77. The company has a market cap of $9.12 billion, a P/E ratio of 17.94, a PEG ratio of 0.71 and a beta of 1.36.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a $0.19 dividend. The ex-dividend date is Friday, October 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. Match Group’s dividend payout ratio (DPR) is currently 37.44%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MTCH. Citigroup dropped their price target on Match Group from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Stifel Nicolaus dropped their price target on Match Group from $35.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Susquehanna increased their price target on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. UBS Group increased their price target on Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $35.44.

Insider Activity at Match Group

In other news, Director Stephen Bailey sold 12,500 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the sale, the director directly owned 8,058 shares in the company, valued at $295,889.76. This trade represents a 60.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.64% of the stock is currently owned by corporate insiders.

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.