Trust Co. of Vermont Sells 2,107 Shares of Match Group, Inc. (NASDAQ:MTCH)

Trust Co. of Vermont reduced its stake in Match Group, Inc. (NASDAQ:MTCH) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,313 shares of the technology company’s stock after selling 2,107 shares during the period. Trust Co. of Vermont’s holdings in Match Group were worth $1,973,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MTCH. Commonwealth Equity Services LLC lifted its holdings in Match Group by 11.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 9,993 shares of the technology company’s stock worth $304,000 after purchasing an additional 1,046 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Match Group by 75.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after buying an additional 977,090 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Match Group in the second quarter valued at approximately $264,000. Amalgamated Bank grew its stake in Match Group by 39.7% during the second quarter. Amalgamated Bank now owns 86,424 shares of the technology company’s stock valued at $2,626,000 after acquiring an additional 24,554 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Match Group by 5.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,747 shares of the technology company’s stock worth $463,000 after acquiring an additional 779 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now owns 12,398 shares of the company’s stock, valued at $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 SEC, which is available through this link. 0.77% of the stock is owned by insiders.

Match Group Stock Up 0.1 %

Shares of NASDAQ MTCH opened at $32.74 on Friday. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.10 and a beta of 1.45. The firm’s fifty day moving average is $32.15 and its 200 day moving average is $34.41. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $39.91.

Match Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.32%. Match Group’s dividend payout ratio is currently 33.93%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $33.00 price target (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays dropped their target price on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company decreased their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, December 12th. Finally, BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.