GAMMA Investing LLC Sells 3,519 Shares of Match Group Inc. $MTCH

GAMMA Investing LLC reduced its holdings in Match Group Inc. (NASDAQ:MTCH) by 38.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,736 shares of the technology company’s stock after selling 3,519 shares during the quarter. GAMMA Investing LLC’s holdings in Match Group were worth $177,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its stake in Match Group by 56.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock valued at $31,000 after buying an additional 362 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Match Group in the first quarter worth $37,000. SVB Wealth LLC purchased a new position in shares of Match Group in the first quarter worth $49,000. Summit Securities Group LLC purchased a new position in shares of Match Group in the first quarter worth $54,000. Finally, Parallel Advisors LLC raised its stake in shares of Match Group by 18.5% in the second quarter. Parallel Advisors LLC now owns 2,500 shares of the technology company’s stock worth $77,000 after purchasing an additional 390 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total transaction of $203,796.34. Following the sale, the director owned 21,926 shares in the company, valued at approximately $823,979.08. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Bailey sold 12,500 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $36.72, for a total value of $459,000.00. Following the completion of the transaction, the director directly owned 8,058 shares of the company’s stock, valued at approximately $295,889.76. This trade represents a 60.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,454 shares of company stock worth $907,839 in the last ninety days. 0.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on MTCH shares. UBS Group upped their price objective on Match Group from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Susquehanna upped their price target on Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on Match Group from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Evercore ISI upped their price target on Match Group from $32.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their price objective on Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, June 27th. Five investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.44.

Match Group Stock Up 0.7%

MTCH opened at $36.50 on Tuesday. The stock’s fifty day moving average is $36.61 and its two-hundred day moving average is $32.59. The company has a market capitalization of $8.78 billion, a P/E ratio of 17.98, a PEG ratio of 0.72 and a beta of 1.36. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20.

Match Group Announces Dividend

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

About Match Group

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.