Empowered Funds LLC Purchases New Position in Match Group, Inc. (NASDAQ:MTCH)

Empowered Funds LLC acquired a new stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 250,531 shares of the technology company's stock, valued at approximately $8,195,000. Empowered Funds LLC owned approximately 0.10% of Match Group at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTCH. Venturi Wealth Management LLC lifted its position in Match Group by 617.3% in the 3rd 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 in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Match Group in the third quarter valued at approximately $31,000. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group in the third quarter valued at approximately $57,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock valued at $70,000 after buying an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC bought a new stake in Match Group during the third quarter worth $87,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the transaction, the director now directly owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.77% of the company's stock.

Match Group Price Performance

Match Group stock traded up $0.01 during mid-day trading on Thursday, reaching $34.01. 4,747,759 shares of the company traded hands, compared to its average volume of 4,464,929. The firm's 50 day moving average price is $33.07 and its 200 day moving average price is $34.67. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly 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 negative return on equity of 574.22% and a net margin of 15.84%. On average, sell-side analysts anticipate that Match Group, Inc. will post 2.49 EPS for the current year.

Match Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors 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 issued 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 dividend yield of 2.23%. Match Group's payout ratio is 37.62%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MTCH shares. Barclays dropped their price objective on Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Piper Sandler restated an "overweight" rating and set a $40.00 price target on shares of Match Group in a report on Thursday, December 12th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Royal Bank of Canada reissued an "outperform" rating and set a $35.00 target price on shares of Match Group in a research report on Monday, December 9th. Finally, Hsbc Global Res lowered Match Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.