Empower Advisory Group LLC Sells 182,120 Shares of Match Group, Inc. (NASDAQ:MTCH)

Empower Advisory Group LLC lowered its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,881,959 shares of the technology company's stock after selling 182,120 shares during the quarter. Empower Advisory Group LLC owned approximately 0.75% of Match Group worth $61,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MTCH. Starboard Value LP bought a new position in shares of Match Group in the third quarter valued at approximately $361,605,000. Versor Investments LP boosted its holdings in Match Group by 301.7% in the 3rd quarter. Versor Investments LP now owns 48,200 shares of the technology company's stock valued at $1,824,000 after purchasing an additional 36,200 shares during the period. Paloma Partners Management Co boosted its holdings in Match Group by 510.3% in the 3rd quarter. Paloma Partners Management Co now owns 65,086 shares of the technology company's stock valued at $2,463,000 after purchasing an additional 54,422 shares during the period. Aviance Capital Partners LLC purchased a new position in shares of Match Group during the 3rd quarter valued at $2,170,000. Finally, Mawer Investment Management Ltd. increased its holdings in shares of Match Group by 71.4% in the third quarter. Mawer Investment Management Ltd. now owns 643,335 shares of the technology company's stock worth $24,344,000 after purchasing an additional 267,890 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Stock Down 3.2 %

Shares of MTCH traded down $1.10 during trading hours on Friday, reaching $32.77. 3,272,464 shares of the company traded hands, compared to its average volume of 4,491,525. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84. The company's fifty day moving average price is $33.32 and its two-hundred day moving average price is $34.62. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.84% and a negative return on equity of 574.22%. On average, analysts expect that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.32%. Match Group's dividend payout ratio (DPR) is 37.62%.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays reduced their target price on Match Group from $53.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. HSBC cut shares of Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a research report on Wednesday, December 18th. Jefferies Financial Group reissued a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Finally, KeyCorp lowered their price objective on shares of Match Group from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Match Group currently has an average rating of "Hold" and an average target price of $37.68.

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.