Allianz SE Buys Shares of 14,127 Match Group, Inc. (NASDAQ:MTCH)

Allianz SE bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,127 shares of the technology company's stock, valued at approximately $463,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MTCH. Starboard Value LP acquired a new stake in shares of Match Group during the third quarter worth $361,605,000. Norges Bank bought a new position in shares of Match Group in the 4th quarter valued at about $112,176,000. DnB Asset Management AS lifted its holdings in Match Group by 4,659.2% during the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company's stock valued at $62,643,000 after purchasing an additional 1,874,853 shares during the last quarter. Retirement Systems of Alabama lifted its position in Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock worth $62,804,000 after acquiring an additional 1,601,115 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Match Group in the 4th quarter valued at $45,768,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now owns 1,690 shares in the company, 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 through this link. Corporate insiders own 0.77% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MTCH. JPMorgan Chase & Co. restated a "neutral" rating and issued a $33.00 price target (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Truist Financial reduced their target price on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Bank of America lifted their price objective on Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. BTIG Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Finally, Barclays reduced their price objective on Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $37.68.

Match Group Stock Performance

Shares of Match Group stock traded up $0.06 during trading hours on Wednesday, hitting $31.47. The company's stock had a trading volume of 3,823,291 shares, compared to its average volume of 4,883,730. The firm has a fifty day moving average of $32.80 and a 200-day moving average of $33.72. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84.

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

Match Group declared that its board has approved a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

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.