South Dakota Investment Council Trims Stock Position in Match Group Inc. $MTCH

South Dakota Investment Council decreased its stake in Match Group Inc. (NASDAQ:MTCH) by 51.4% during the third quarter, Holdings Channel reports. The institutional investor owned 114,898 shares of the technology company’s stock after selling 121,666 shares during the quarter. South Dakota Investment Council’s holdings in Match Group were worth $4,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MTCH. Harbor Capital Advisors Inc. acquired a new position in Match Group in the third quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Match Group during the 3rd quarter worth approximately $27,000. Employees Retirement System of Texas purchased a new position in shares of Match Group during the 2nd quarter valued at approximately $28,000. Rossby Financial LCC increased its holdings in shares of Match Group by 126.5% during the 3rd quarter. Rossby Financial LCC now owns 906 shares of the technology company’s stock valued at $31,000 after purchasing an additional 506 shares in the last quarter. Finally, Caldwell Trust Co acquired a new position in shares of Match Group in the 2nd quarter valued at $32,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MTCH. JPMorgan Chase & Co. dropped their price target on shares of Match Group from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. TD Cowen lowered their target price on shares of Match Group from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. Morgan Stanley set a $35.00 price target on Match Group in a research note on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $37.00 price target on shares of Match Group in a research report on Wednesday, December 10th. Finally, UBS Group set a $34.00 price objective on Match Group in a report on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and an average price target of $35.86.

Match Group Stock Down 1.6%

MTCH opened at $30.80 on Wednesday. Match Group Inc. has a twelve month low of $26.39 and a twelve month high of $39.20. The company has a 50-day moving average price of $31.54 and a 200 day moving average price of $33.41. The company has a market cap of $7.27 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings data 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). Match Group had a negative return on equity of 289.29% and a net margin of 17.59%.The firm had revenue of $878.01 million during the quarter, compared to analyst estimates of $872.86 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Match Group Inc. will post 2.44 earnings per share 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 is Tuesday, April 7th. This is a positive change from Match Group’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. Match Group’s dividend payout ratio (DPR) is presently 31.93%.

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.