Andra AP fonden Boosts Stock Position in Match Group, Inc. (NASDAQ:MTCH)

Andra AP fonden boosted its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 81.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 866,369 shares of the technology company's stock after purchasing an additional 389,897 shares during the period. Andra AP fonden owned about 0.35% of Match Group worth $28,339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company's stock valued at $668,732,000 after acquiring an additional 391,977 shares during the last quarter. Starboard Value LP acquired a new position in Match Group in the 3rd quarter worth about $361,605,000. Pacer Advisors Inc. raised its position in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after purchasing an additional 939,078 shares during the last quarter. FMR LLC raised its position in Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company's stock valued at $209,668,000 after purchasing an additional 524,144 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock valued at $87,267,000 after purchasing an additional 69,947 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Loop Capital lowered their price objective on Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, December 12th. StockNews.com cut shares of Match Group from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. HSBC lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Barclays decreased their price objective on Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 target price (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $37.68.

Match Group Stock Down 2.1 %

NASDAQ:MTCH traded down $0.67 on Tuesday, hitting $31.36. The stock had a trading volume of 4,387,489 shares, compared to its average volume of 5,068,537. Match Group, Inc. has a 52 week low of $27.66 and a 52 week high of $38.84. The business's fifty day moving average is $33.17 and its 200 day moving average is $34.31. The company has a market cap of $7.85 billion, a PE ratio of 15.52, a P/E/G ratio of 0.82 and a beta of 1.45.

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%. Equities analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

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 given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's payout ratio is presently 37.62%.

Match Group announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of the company'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 sale, the president now owns 1,690 shares in the company, valued at approximately $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 can be accessed through this link. 0.77% of the stock is owned by insiders.

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.