Grantham Mayo Van Otterloo & Co. LLC cut its holdings in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 850,768 shares of the technology company's stock after selling 40,661 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.34% of Match Group worth $27,829,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Mawer Investment Management Ltd. grew its holdings in Match Group by 716.8% during the 4th quarter. Mawer Investment Management Ltd. now owns 5,254,933 shares of the technology company's stock valued at $171,889,000 after buying an additional 4,611,598 shares during the last quarter. Norges Bank acquired a new stake in shares of Match Group during the fourth quarter valued at $112,176,000. Arrowstreet Capital Limited Partnership increased its position in Match Group by 110.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,624,212 shares of the technology company's stock worth $183,968,000 after purchasing an additional 2,952,470 shares in the last quarter. DnB Asset Management AS increased its position in Match Group by 4,659.2% during the 4th quarter. DnB Asset Management AS now owns 1,915,093 shares of the technology company's stock worth $62,643,000 after purchasing an additional 1,874,853 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock valued at $62,804,000 after purchasing an additional 1,601,115 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, President Gary Swidler sold 242,209 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.77% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on MTCH shares. HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Truist Financial cut their price target on Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a "neutral" rating and set a $33.00 price objective (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 target price (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Finally, BTIG Research downgraded Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $37.63.
Read Our Latest Stock Report on Match Group
Match Group Stock Performance
Match Group stock traded up $0.34 during trading on Friday, reaching $28.42. 948,669 shares of the company's stock were exchanged, compared to its average volume of 4,941,231. The company's 50-day moving average is $31.74 and its two-hundred day moving average is $33.28. Match Group, Inc. has a 52-week low of $26.39 and a 52-week high of $38.84. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 14.03, 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 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%. Analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.
Match Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's payout ratio is 37.62%.
Match Group Profile
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Free Report)
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.
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