Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by abrdn plc

abrdn plc boosted its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 80.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,634 shares of the technology company's stock after buying an additional 17,261 shares during the period. abrdn plc's holdings in Match Group were worth $1,270,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Match Group in the second quarter valued at approximately $731,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock valued at $70,000 after acquiring an additional 1,500 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Match Group by 42.3% in the third quarter. Exchange Traded Concepts LLC now owns 56,404 shares of the technology company's stock valued at $2,134,000 after acquiring an additional 16,768 shares in the last quarter. Novare Capital Management LLC grew its position in Match Group by 1.3% in the third quarter. Novare Capital Management LLC now owns 226,922 shares of the technology company's stock valued at $8,587,000 after acquiring an additional 2,995 shares in the last quarter. Finally, CX Institutional acquired a new stake in Match Group in the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by company insiders.

Match Group Price Performance

MTCH traded up $0.68 during trading hours on Friday, hitting $34.69. 4,673,098 shares of the stock were exchanged, compared to its average volume of 4,471,876. The stock has a 50-day simple moving average of $33.09 and a 200-day simple moving average of $34.67. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. Sell-side analysts expect that Match Group, Inc. will post 2.49 EPS for the current year.

Match Group announced that its Board of Directors has authorized a share 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 purchase up to 19% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Match Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, April 3rd. Match Group's payout ratio is 37.62%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MTCH. Piper Sandler reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. Hsbc Global Res downgraded shares of Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Bank of America increased their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Morgan Stanley raised their price target on shares of Match Group from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Finally, New Street Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $37.68.

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.