EULAV Asset Management Sells 90,007 Shares of Match Group, Inc. (NASDAQ:MTCH)

EULAV Asset Management lessened its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 325,129 shares of the technology company's stock after selling 90,007 shares during the period. EULAV Asset Management owned about 0.13% of Match Group worth $10,635,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Sumitomo Life Insurance Co. lifted its position in shares of Match Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company's stock worth $403,000 after acquiring an additional 297 shares during the period. Empirical Finance LLC increased its holdings in Match Group by 1.5% in the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company's stock valued at $982,000 after buying an additional 384 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company's stock worth $1,133,000 after acquiring an additional 455 shares during the period. Venturi Wealth Management LLC boosted its position 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 acquiring an additional 605 shares in the last quarter. Finally, River Global Investors LLP raised its position in Match Group by 0.9% in the third quarter. River Global Investors LLP now owns 82,382 shares of the technology company's stock worth $3,119,000 after purchasing an additional 732 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

Match Group Stock Performance

NASDAQ:MTCH traded up $0.07 during trading hours on Wednesday, hitting $34.00. The stock had a trading volume of 4,203,051 shares, compared to its average volume of 4,454,810. The business's 50 day moving average is $33.04 and its 200-day moving average is $34.68. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last posted 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, sell-side analysts anticipate that Match Group, Inc. will post 2.49 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.24%. Match Group's dividend payout ratio is presently 37.62%.

Match Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on MTCH. Piper Sandler reiterated an "overweight" rating and issued a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. Stifel Nicolaus dropped their price objective on Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 target price on shares of Match Group in a research note on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, December 12th. Finally, HSBC cut shares of Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $37.68.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares of the company's stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by company insiders.

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.