Voya Investment Management LLC Sells 16,457 Shares of Match Group Inc. $MTCH

Voya Investment Management LLC cut its stake in shares of Match Group Inc. (NASDAQ:MTCH) by 24.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,470 shares of the technology company’s stock after selling 16,457 shares during the period. Voya Investment Management LLC’s holdings in Match Group were worth $1,818,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Employees Retirement System of Texas acquired a new position in Match Group in the 2nd quarter worth about $28,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Match Group by 56.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock worth $31,000 after purchasing an additional 362 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Match Group in the second quarter valued at approximately $32,000. Elevation Point Wealth Partners LLC bought a new position in Match Group in the 2nd quarter valued at approximately $63,000. Finally, Harbour Investments Inc. boosted its position 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. Institutional investors and hedge funds own 94.05% of the company’s stock.

Match Group Stock Down 1.1%

MTCH stock opened at $32.54 on Monday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 0.71 and a beta of 1.34. The company’s fifty day simple moving average is $32.84 and its 200 day simple moving average is $33.97. Match Group Inc. has a 12-month low of $26.39 and a 12-month high of $39.20.

Match Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, January 6th. Match Group’s payout ratio is presently 35.51%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTCH. Evercore ISI decreased their price target on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of Match Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, October 20th. Wells Fargo & Company lowered their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Truist Financial cut their target price on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Finally, Raymond James Financial reissued a “market perform” rating 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 issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.42.

Insider Transactions at Match Group

In related news, CEO Spencer M. Rascoff bought 14,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $31.84 per share, with a total value of $445,760.00. Following the completion of the purchase, the chief executive officer directly owned 165,128 shares in the company, valued at $5,257,675.52. The trade was a 9.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is currently owned by corporate insiders.

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.