Rhumbline Advisers Sells 20,640 Shares of Match Group Inc. $MTCH

Rhumbline Advisers cut its holdings in Match Group Inc. (NASDAQ:MTCH) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 484,496 shares of the technology company’s stock after selling 20,640 shares during the period. Rhumbline Advisers owned approximately 0.20% of Match Group worth $17,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTCH. Harbor Capital Advisors Inc. bought a new stake in Match Group in the third quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in shares of Match Group during the 3rd quarter worth approximately $27,000. Employees Retirement System of Texas acquired a new stake in shares of Match Group during the 2nd quarter worth approximately $28,000. Caldwell Trust Co bought a new stake in shares of Match Group in the 2nd quarter valued at $32,000. Finally, Quent Capital LLC acquired a new position in shares of Match Group during the 3rd quarter valued at $37,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Down 1.0%

Shares of Match Group stock opened at $30.18 on Wednesday. Match Group Inc. has a 52 week low of $26.39 and a 52 week high of $39.20. The business has a 50 day moving average price of $31.86 and a 200-day moving average price of $33.79. The company has a market cap of $7.12 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.58 and a beta of 1.32.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.17). The company had revenue of $878.01 million for the quarter, compared to the consensus estimate of $872.86 million. Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 EPS. As a group, research analysts anticipate that Match Group Inc. will post 2.44 EPS for the current year.

Match Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This is an increase from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. Match Group’s payout ratio is 31.93%.

Insiders Place Their Bets

In other news, CEO Spencer M. Rascoff acquired 14,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average price 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 approximately $5,257,675.52. This represents a 9.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

MTCH has been the subject of a number of research reports. Wolfe Research set a $43.00 price target on shares of Match Group and gave the stock an “outperform” rating in a report on Monday, January 5th. UBS Group set a $34.00 price objective on shares of Match Group in a research report on Wednesday, February 4th. Raymond James Financial restated a “market perform” rating on shares of Match Group in a research note on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price target on Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Finally, TD Cowen reduced their price objective on Match Group from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.86.

Match Group 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.