Abacus FCF Advisors LLC Purchases 19,762 Shares of Match Group, Inc. (NASDAQ:MTCH)

Abacus FCF Advisors LLC boosted its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,469 shares of the technology company's stock after purchasing an additional 19,762 shares during the quarter. Abacus FCF Advisors LLC's holdings in Match Group were worth $1,913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Match Group by 25.3% during the 4th quarter. Invesco Ltd. now owns 5,827,217 shares of the technology company's stock worth $190,608,000 after buying an additional 1,174,889 shares during the period. Cerity Partners LLC boosted its holdings in shares of Match Group by 14.7% during the fourth quarter. Cerity Partners LLC now owns 66,035 shares of the technology company's stock worth $2,160,000 after acquiring an additional 8,461 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Match Group by 271.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 506,462 shares of the technology company's stock worth $16,566,000 after acquiring an additional 370,058 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Match Group in the fourth quarter valued at approximately $2,352,000. Finally, Prudential PLC increased its stake in shares of Match Group by 159.2% during the fourth quarter. Prudential PLC now owns 36,070 shares of the technology company's stock worth $1,180,000 after purchasing an additional 22,153 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MTCH. Barclays decreased their price objective on Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus decreased their price target on shares of Match Group from $36.00 to $35.00 and set a "hold" rating on the stock in a research note on Thursday, February 6th. HSBC cut shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. New Street Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Finally, BTIG Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $37.63.

Match Group Trading Up 1.4 %

Match Group stock traded up $0.40 during mid-day trading on Friday, reaching $28.48. The company had a trading volume of 3,745,862 shares, compared to its average volume of 4,956,827. The business has a fifty day simple moving average of $31.58 and a 200 day simple moving average of $33.19. The company has a market cap of $7.13 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.67%. Match Group's dividend payout ratio (DPR) is presently 37.62%.

Insider Buying and Selling

In related news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

Match Group Company 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.