Charles Schwab Investment Management Inc. Acquires 69,947 Shares of Match Group, Inc. (NASDAQ:MTCH)

Charles Schwab Investment Management Inc. lifted its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,667,907 shares of the technology company's stock after buying an additional 69,947 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.06% of Match Group worth $87,267,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MTCH. Venturi Wealth Management LLC grew 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 purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Match Group during the 3rd quarter worth $31,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Match Group in the 3rd quarter valued at about $57,000. Quarry LP boosted its position in shares of Match Group by 126.3% in the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company's stock valued at $112,000 after purchasing an additional 1,651 shares during the period. Finally, Principal Securities Inc. lifted its position in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after acquiring an additional 2,652 shares during the period. Institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In other news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This 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. 0.77% of the stock is currently owned by insiders.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on MTCH shares. BTIG Research cut Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Piper Sandler reaffirmed an "overweight" rating and issued a $40.00 price target on shares of Match Group in a report on Thursday, December 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Evercore ISI lowered shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a research report on Thursday, February 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Match Group from $36.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $37.68.

Match Group Trading Down 2.1 %

Shares of NASDAQ:MTCH traded down $0.67 during mid-day trading on Tuesday, reaching $31.36. The company had a trading volume of 4,387,489 shares, compared to its average volume of 5,068,537. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.82 and a beta of 1.45. The company's 50-day moving average price is $33.17 and its 200-day moving average price is $34.31.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. On average, research analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

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

Match Group Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio is presently 37.62%.

Match Group Company 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.