Global Endowment Management LP Takes $553,000 Position in Match Group, Inc. (NASDAQ:MTCH)

Global Endowment Management LP purchased a new position in Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,896 shares of the technology company's stock, valued at approximately $553,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Metis Global Partners LLC increased its position in shares of Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock worth $358,000 after acquiring an additional 318 shares during the period. Cornerstone Investment Partners LLC grew its stake in Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock worth $520,000 after purchasing an additional 349 shares in the last quarter. Assetmark Inc. increased its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after purchasing an additional 378 shares during the period. Ontario Teachers Pension Plan Board raised its position in Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company's stock valued at $757,000 after purchasing an additional 415 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Match Group by 0.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company's stock worth $2,445,000 after buying an additional 478 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Match Group Price Performance

MTCH stock traded up $0.37 during trading on Friday, hitting $29.02. The stock had a trading volume of 3,561,208 shares, compared to its average volume of 4,946,131. Match Group, Inc. has a twelve month low of $26.39 and a twelve month high of $38.84. The company's 50-day moving average price is $31.08 and its two-hundred day moving average price is $32.92. The stock has a market capitalization of $7.27 billion, a P/E ratio of 14.37, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH - Get Free Report) last issued 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%. As a group, sell-side analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd were paid a $0.19 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.76 annualized dividend and a dividend yield of 2.62%. Match Group's dividend payout ratio (DPR) is 37.62%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Match Group from a "hold" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Match Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Hsbc Global Res lowered Match Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price objective on the stock. in a research report on Thursday, February 6th. Finally, Morgan Stanley reduced their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Match Group presently has an average rating of "Hold" and a consensus price target of $37.58.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was 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 directly owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.77% of the company's stock.

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.