Allspring Global Investments Holdings LLC Sells 7,093 Shares of Match Group Inc. $MTCH

Allspring Global Investments Holdings LLC cut its holdings in Match Group Inc. (NASDAQ:MTCH) by 39.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,665 shares of the technology company’s stock after selling 7,093 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Match Group were worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GW Henssler & Associates Ltd. bought a new position in Match Group in the 2nd quarter valued at approximately $13,013,000. Meritage Portfolio Management bought a new position in Match Group in the 2nd quarter valued at approximately $693,000. Vanguard Personalized Indexing Management LLC lifted its position in Match Group by 31.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,454 shares of the technology company’s stock valued at $570,000 after acquiring an additional 4,392 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in Match Group in the 2nd quarter valued at approximately $249,000. Finally, Aberdeen Group plc lifted its position in Match Group by 72.7% in the 2nd quarter. Aberdeen Group plc now owns 33,990 shares of the technology company’s stock valued at $1,050,000 after acquiring an additional 14,314 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Match Group news, Director Ann Mcdaniel sold 5,423 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $37.58, for a total value of $203,796.34. Following the completion of the sale, the director owned 21,926 shares in the company, valued at approximately $823,979.08. This represents a 19.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $37.52, for a total value of $245,043.12. Following the completion of the sale, the chief accounting officer owned 23,240 shares of the company’s stock, valued at $871,964.80. The trade was a 21.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,454 shares of company stock worth $907,839. Corporate insiders own 0.64% of the company’s stock.

Match Group Price Performance

NASDAQ:MTCH opened at $32.62 on Friday. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 0.65 and a beta of 1.38. Match Group Inc. has a one year low of $26.39 and a one year high of $39.20. The business has a fifty day moving average price of $35.78 and a 200-day moving average price of $32.94.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, October 3rd. Match Group’s dividend payout ratio is presently 37.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MTCH shares. Morgan Stanley lowered their price target on Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, October 20th. UBS Group lifted their price objective on Match Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Match Group in a research report on Saturday. Susquehanna upped their price objective on Match Group from $40.00 to $45.00 and gave the company a “positive” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.56.

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.