Corient Private Wealth LLC Sells 19,060 Shares of Match Group Inc. $MTCH

Corient Private Wealth LLC lessened its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 65.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,028 shares of the technology company’s stock after selling 19,060 shares during the period. Corient Private Wealth LLC’s holdings in Match Group were worth $310,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Employees Retirement System of Texas acquired a new position in shares of Match Group during the second quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Match Group by 56.0% in the 2nd 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 period. Caldwell Trust Co bought a new stake in Match Group in the 2nd quarter valued at about $32,000. Elevation Point Wealth Partners LLC acquired a new position in Match Group during the 2nd quarter worth approximately $63,000. Finally, Harbour Investments Inc. raised its stake in Match Group by 28.0% during the 2nd quarter. Harbour Investments Inc. now owns 2,039 shares of the technology company’s stock worth $63,000 after buying an additional 446 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on MTCH. Evercore ISI reduced their price objective on Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research note on Wednesday, November 5th. Raymond James Financial reiterated a “market perform” rating on shares of Match Group in a report on Wednesday, December 10th. Truist Financial decreased their price target on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Wells Fargo & Company lowered their price objective on shares of Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Match Group in a research note on Wednesday, December 10th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.42.

Match Group Stock Performance

Shares of MTCH opened at $32.16 on Wednesday. Match Group Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.20. The stock has a market cap of $7.59 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.71 and a beta of 1.34. The firm’s 50-day simple moving average is $32.81 and its two-hundred day simple moving average is $34.00.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. Match Group’s payout ratio is presently 35.51%.

Insider Buying and Selling

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of Match Group stock in a transaction on Thursday, November 20th. The stock was acquired at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the purchase, the chief executive officer owned 165,128 shares in the company, valued at $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.64% of the company’s stock.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.