Edgestream Partners L.P. Purchases Shares of 69,882 Match Group, Inc. (NASDAQ:MTCH)

Edgestream Partners L.P. acquired a new stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 69,882 shares of the technology company's stock, valued at approximately $2,286,000.

Several other large investors have also bought and sold shares of the business. Venturi Wealth Management LLC increased 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 stake in shares of Match Group in the 3rd quarter worth about $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group in the 3rd quarter worth $57,000. Quarry LP boosted its stake in Match Group by 126.3% in the third quarter. Quarry LP now owns 2,958 shares of the technology company's stock valued at $112,000 after acquiring an additional 1,651 shares during the last quarter. Finally, Assetmark Inc. increased its stake 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 purchasing an additional 378 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Trading Down 0.9 %

NASDAQ:MTCH traded down $0.28 during midday trading on Tuesday, hitting $31.75. 1,892,405 shares of the company traded hands, compared to its average volume of 5,011,714. The firm's fifty day moving average is $33.17 and its 200-day moving average is $34.31. The firm has a market capitalization of $7.95 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84.

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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 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%. On average, research analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group announced that its board has authorized a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Match Group Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.39%. Match Group's dividend payout ratio (DPR) is presently 37.62%.

Insider Buying and Selling at Match Group

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a report on Thursday, February 6th. BTIG Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Royal Bank of Canada reissued an "outperform" rating and issued a $35.00 target price on shares of Match Group in a research note on Monday, December 9th. Piper Sandler reissued an "overweight" rating and set a $40.00 price objective on shares of Match Group in a report on Thursday, December 12th. Finally, Stifel Nicolaus lowered their price objective on shares of Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Match Group presently has an average rating of "Hold" and an average price target of $37.68.

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.