Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. lessened its position in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,042,614 shares of the technology company's stock after selling 264,537 shares during the period. Match Group comprises 5.0% of Bronte Capital Management Pty Ltd.'s portfolio, making the stock its 7th largest holding. Bronte Capital Management Pty Ltd. owned approximately 0.42% of Match Group worth $34,104,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in Match Group by 617.3% in the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after acquiring an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group in the third quarter worth $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group in the third quarter worth $57,000. Quarry LP increased its position in shares of Match Group by 126.3% in the third quarter. Quarry LP now owns 2,958 shares of the technology company's stock worth $112,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

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Match Group Stock Up 2.9 %

Shares of Match Group stock traded up $0.86 during midday trading on Friday, hitting $30.94. The company's stock had a trading volume of 3,591,546 shares, compared to its average volume of 4,977,142. The firm has a market capitalization of $7.75 billion, a P/E ratio of 15.32, a PEG ratio of 0.82 and a beta of 1.45. The stock has a 50-day simple moving average of $33.02 and a 200-day simple moving average of $34.13. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84.

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

Match Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.46%. Match Group's payout ratio is 37.62%.

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

Analysts Set New Price Targets

A number of brokerages have commented on MTCH. BTIG Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. 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 report on Thursday, December 12th. Stifel Nicolaus cut their target price 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. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 price objective on shares of Match Group in a report on Monday, December 9th. Finally, HSBC downgraded Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $37.68.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the firm's 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 sale, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company's stock.

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.