Match Group Inc. $MTCH Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in Match Group Inc. (NASDAQ:MTCH) by 85.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,804 shares of the technology company’s stock after selling 151,696 shares during the quarter. State of Alaska Department of Revenue’s holdings in Match Group were worth $911,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its position in shares of Match Group by 57.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 60,667 shares of the technology company’s stock valued at $2,143,000 after purchasing an additional 22,165 shares during the last quarter. Foster & Motley Inc. increased its stake in Match Group by 41.0% during the 3rd quarter. Foster & Motley Inc. now owns 35,225 shares of the technology company’s stock valued at $1,244,000 after purchasing an additional 10,236 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Match Group in the third quarter worth $630,000. HB Wealth Management LLC acquired a new stake in shares of Match Group during the third quarter worth $253,000. Finally, CX Institutional lifted its stake in shares of Match Group by 71.4% during the third quarter. CX Institutional now owns 2,950 shares of the technology company’s stock worth $104,000 after buying an additional 1,229 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

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

Match Group Trading Down 0.9%

Match Group stock opened at $31.33 on Monday. The firm has a market cap of $7.40 billion, a PE ratio of 14.64, a P/E/G ratio of 0.59 and a beta of 1.33. Match Group Inc. has a 12 month low of $26.39 and a 12 month high of $39.20. The stock’s 50 day simple moving average is $32.69 and its two-hundred day simple moving average is $34.10.

Match Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MTCH shares. Wells Fargo & Company cut their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a report on Wednesday, October 8th. Morgan Stanley lifted their target price on Match Group from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Wolfe Research set a $43.00 target price on Match Group and gave the company an “outperform” rating in a research report on Monday, January 5th. Finally, Evercore ISI cut their price target on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Match Group has a consensus rating of “Hold” and an average target price of $36.38.

About Match Group

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.