Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 133.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,183 shares of the technology company's stock after buying an additional 20,713 shares during the period. Commonwealth Equity Services LLC's holdings in Match Group were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the 3rd quarter valued at about $31,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group in the third quarter worth approximately $57,000. Quarry LP grew its holdings in Match Group by 126.3% during the 3rd 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. Assetmark Inc. increased its position in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock valued at $107,000 after purchasing an additional 2,652 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the transaction, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.77% of the company's stock.

Remove Ads

Match Group Trading Down 2.6 %

Shares of Match Group stock traded down $0.77 during trading hours on Friday, reaching $29.41. 2,990,913 shares of the company's stock were exchanged, compared to its average volume of 4,904,823. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The company has a fifty day moving average of $32.71 and a 200-day moving average of $33.68.

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

Match Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are 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 given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, April 3rd. Match Group's payout ratio is 37.62%.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Match Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Evercore ISI cut shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 target price for the company. in a report on Thursday, February 6th. Barclays cut their price target on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. UBS Group cut their target price on Match Group from $38.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. Finally, Loop Capital decreased their target price on Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Match Group currently has a consensus rating of "Hold" and a consensus target price of $37.68.

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.