AlphaQuest LLC Sells 8,397 Shares of Match Group, Inc. (NASDAQ:MTCH)

AlphaQuest LLC reduced its stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 83.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,696 shares of the technology company's stock after selling 8,397 shares during the quarter. AlphaQuest LLC's holdings in Match Group were worth $55,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Match Group by 5.5% in the third quarter. Victory Capital Management Inc. now owns 182,535 shares of the technology company's stock valued at $6,907,000 after acquiring an additional 9,462 shares during the period. CIBC Asset Management Inc grew its position in shares of Match Group by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 36,237 shares of the technology company's stock valued at $1,371,000 after purchasing an additional 1,848 shares during the period. Quest Partners LLC bought a new stake in Match Group during the 3rd quarter worth approximately $382,000. Caprock Group LLC bought a new position in Match Group in the third quarter valued at approximately $221,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Match Group in the third quarter valued at approximately $251,000. 94.05% of the stock is owned by institutional investors.

Insider Transactions at Match Group

In other news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction dated 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 sale, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.77% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America raised their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Barclays dropped their target price on Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Loop Capital decreased their price target on shares of Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, December 12th. Stifel Nicolaus decreased their price target on Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.68.

Match Group Price Performance

Shares of NASDAQ:MTCH traded up $1.17 during mid-day trading on Monday, hitting $31.66. The company had a trading volume of 3,981,963 shares, compared to its average volume of 4,686,589. The company has a market capitalization of $7.93 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The firm has a fifty day moving average price of $32.92 and a 200 day moving average price of $33.93. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last issued 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 negative return on equity of 574.22% and a net margin of 15.84%. Research analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group announced that its board has approved a share buyback plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio is presently 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.