Geode Capital Management LLC Sells 152,035 Shares of Match Group, Inc. (NASDAQ:MTCH)

Geode Capital Management LLC lowered its position in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,401,339 shares of the technology company's stock after selling 152,035 shares during the quarter. Geode Capital Management LLC owned approximately 2.48% of Match Group worth $241,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Match Group in the 2nd quarter valued at approximately $220,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Match Group by 3.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company's stock worth $17,556,000 after acquiring an additional 17,540 shares in the last quarter. Penn Davis Mcfarland Inc. increased its stake in shares of Match Group by 1.0% during the 2nd quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company's stock worth $14,290,000 after purchasing an additional 4,638 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Match Group by 7.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company's stock valued at $269,000 after purchasing an additional 598 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in shares of Match Group by 8.1% in the 2nd quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company's stock valued at $409,000 after purchasing an additional 1,010 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

MTCH has been the topic of several recent research reports. Susquehanna cut their target price on Match Group from $45.00 to $40.00 and set a "positive" rating on the stock in a report on Friday, November 8th. Stifel Nicolaus cut their price objective on Match Group from $39.00 to $36.00 and set a "hold" rating on the stock in a research note on Thursday. Bank of America upped their target price on Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley lowered their price target on Match Group from $33.00 to $31.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, StockNews.com downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $39.06.

Insider Activity at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares of the company's stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is currently owned by insiders.

Match Group Stock Up 2.8 %

MTCH traded up $0.87 during trading on Friday, reaching $31.45. 6,124,941 shares of the company's stock were exchanged, compared to its average volume of 4,010,327. The company has a market capitalization of $7.90 billion, a P/E ratio of 14.04, a PEG ratio of 1.18 and a beta of 1.47. The business has a 50 day moving average price of $34.35 and a 200 day moving average price of $34.19. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $42.42.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.42%.

Match Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Match Group Profile

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.