Entropy Technologies LP Makes New $599,000 Investment in Match Group, Inc. (NASDAQ:MTCH)

Entropy Technologies LP acquired a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,300 shares of the technology company's stock, valued at approximately $599,000.

Several other institutional investors have also recently modified their holdings of MTCH. Venturi Wealth Management LLC grew its stake in shares of Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after buying 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 valued at about $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group during the 3rd quarter valued at about $57,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Match Group by 433.5% during the 3rd 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 shares of Match Group during the 3rd quarter valued at about $87,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company's stock.

Match Group Stock Performance

MTCH traded up $0.68 during midday trading on Friday, hitting $34.69. The stock had a trading volume of 4,673,098 shares, compared to its average volume of 4,414,033. The company has a market cap of $8.71 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a 1 year low of $27.66 and a 1 year high of $38.84. The business has a fifty day moving average of $33.13 and a 200 day moving average of $34.68.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.62 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 2.49 earnings per share for the current year.

Match Group declared that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Match Group Dividend Announcement

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 is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. Match Group's dividend payout ratio (DPR) is 37.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MTCH shares. Loop Capital decreased their price objective on shares of Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, December 12th. HSBC lowered shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Jefferies Financial Group restated a "hold" rating and set a $32.00 price target (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Finally, Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Match Group currently 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.