BNP Paribas Financial Markets Sells 208,002 Shares of Match Group Inc. $MTCH

BNP Paribas Financial Markets cut its stake in Match Group Inc. (NASDAQ:MTCH) by 19.3% in the fourth quarter, Holdings Channel reports. The firm owned 871,204 shares of the technology company’s stock after selling 208,002 shares during the period. BNP Paribas Financial Markets’ holdings in Match Group were worth $28,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MTCH. Woodline Partners LP acquired a new stake in Match Group in the 1st quarter worth approximately $662,000. Northwestern Mutual Wealth Management Co. lifted its stake in Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company’s stock valued at $162,000 after acquiring an additional 891 shares during the period. First Trust Advisors LP lifted its stake in Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company’s stock valued at $20,070,000 after acquiring an additional 204,472 shares during the period. Amundi lifted its stake in Match Group by 1,477.6% during the 2nd quarter. Amundi now owns 358,709 shares of the technology company’s stock valued at $11,637,000 after acquiring an additional 335,971 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in Match Group during the 2nd quarter valued at approximately $298,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Trading Up 1.3%

MTCH opened at $34.76 on Friday. Match Group Inc. has a twelve month low of $28.81 and a twelve month high of $39.20. The firm has a market capitalization of $8.11 billion, a PE ratio of 13.27, a PEG ratio of 0.55 and a beta of 1.33. The firm’s 50-day moving average price is $34.69 and its 200 day moving average price is $32.84.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, July 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, July 7th. Match Group’s payout ratio is presently 30.53%.

Insiders Place Their Bets

In other Match Group news, Director Melissa Anne Brenner sold 5,141 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $35.94, for a total value of $184,767.54. Following the transaction, the director directly owned 16,218 shares in the company, valued at $582,874.92. The trade was a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on MTCH shares. Piper Sandler set a $51.00 price objective on shares of Match Group in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Match Group from $30.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Match Group from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. TD Cowen lifted their price objective on shares of Match Group from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, UBS Group lifted their price objective on shares of Match Group from $34.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Match Group currently has a consensus rating of “Hold” and a consensus target price of $41.07.

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.