Exchange Traded Concepts LLC Sells 39,084 Shares of Match Group, Inc. (NASDAQ:MTCH)

Exchange Traded Concepts LLC cut its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 69.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,320 shares of the technology company's stock after selling 39,084 shares during the quarter. Exchange Traded Concepts LLC's holdings in Match Group were worth $567,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sumitomo Life Insurance Co. increased its holdings in shares of Match Group by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company's stock worth $403,000 after purchasing an additional 297 shares during the period. Fulton Bank N.A. grew its position in Match Group by 3.1% in the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company's stock valued at $379,000 after acquiring an additional 299 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Match Group by 1.5% during the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company's stock valued at $982,000 after purchasing an additional 384 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Match Group by 1.5% during the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company's stock worth $1,133,000 after buying an additional 455 shares in the last quarter. Finally, Quarry LP raised its position in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company's stock valued at $40,000 after purchasing an additional 461 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Stock Performance

MTCH traded up $0.49 during mid-day trading on Friday, reaching $35.70. 4,195,792 shares of the stock were exchanged, compared to its average volume of 3,326,978. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $39.91. The stock has a market capitalization of $8.96 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.08 and a beta of 1.45. The company has a 50 day moving average price of $32.80 and a two-hundred day moving average price of $34.66.

Match Group declared that its board has authorized a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th were paid a $0.19 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.76 annualized dividend and a yield of 2.13%. Match Group's dividend payout ratio (DPR) is 33.93%.

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the business's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now directly owns 12,398 shares in the company, valued at $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BTIG Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $33.00 price objective (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on shares of Match Group from $39.00 to $36.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Finally, Susquehanna cut their target price on Match Group from $45.00 to $40.00 and set a "positive" rating on the stock in a research report on Friday, November 8th. Fourteen research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Match Group currently has an average rating of "Moderate Buy" and a consensus target price of $37.72.

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.