Match Group Inc. $MTCH Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 78.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,317 shares of the technology company’s stock after selling 588,312 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.06% of Match Group worth $4,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its stake in shares of Match Group by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 89,987 shares of the technology company’s stock worth $2,780,000 after acquiring an additional 10,269 shares during the period. Meritage Portfolio Management acquired a new position in Match Group during the second quarter valued at $693,000. Patton Fund Management Inc. purchased a new stake in Match Group in the second quarter valued at $226,000. PNC Financial Services Group Inc. grew its position in Match Group by 71.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 31,228 shares of the technology company’s stock worth $965,000 after purchasing an additional 12,987 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Match Group by 24.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 63,024 shares of the technology company’s stock valued at $1,947,000 after buying an additional 12,206 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Match Group

In related news, CEO Spencer M. Rascoff purchased 14,000 shares of Match Group stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. This trade represents a 9.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Philip D. Eigenmann sold 6,531 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $37.52, for a total transaction of $245,043.12. Following the completion of the transaction, the chief accounting officer directly owned 23,240 shares in the company, valued at $871,964.80. This represents a 21.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.64% of the company’s stock.

Match Group Price Performance

Shares of MTCH stock opened at $33.33 on Friday. Match Group Inc. has a 1-year low of $26.39 and a 1-year high of $39.20. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.63 and a beta of 1.41. The stock has a 50 day simple moving average of $33.22 and a 200-day simple moving average of $33.53.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Tuesday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Match Group’s dividend payout ratio is currently 35.51%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Match Group from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Susquehanna raised their price objective on shares of Match Group from $40.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Morgan Stanley cut their target price on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. Finally, Wells Fargo & Company lowered their price target 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. Four research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Hold” and an average price target of $35.00.

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.