HighTower Advisors LLC Sells 22,756 Shares of Match Group, Inc. (NASDAQ:MTCH)

HighTower Advisors LLC trimmed its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,437 shares of the technology company's stock after selling 22,756 shares during the quarter. HighTower Advisors LLC's holdings in Match Group were worth $1,584,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MTCH. Quest Partners LLC bought a new position in shares of Match Group during the third quarter worth about $382,000. Caprock Group LLC acquired a new position in Match Group in the third quarter worth $221,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Match Group during the third quarter valued at $251,000. Cerity Partners LLC raised its holdings in shares of Match Group by 3.4% during the third quarter. Cerity Partners LLC now owns 57,574 shares of the technology company's stock worth $2,179,000 after purchasing an additional 1,898 shares during the period. Finally, Swedbank AB lifted its position in shares of Match Group by 25.6% in the 3rd quarter. Swedbank AB now owns 620,900 shares of the technology company's stock worth $23,495,000 after buying an additional 126,400 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MTCH shares. Bank of America boosted their price objective on shares of Match Group from $35.00 to $36.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. New Street Research lowered Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Royal Bank of Canada restated an "outperform" rating and set a $35.00 price objective on shares of Match Group in a research note on Monday, December 9th. Finally, Wells Fargo & Company cut their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $37.68.

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Match Group Stock Performance

Shares of NASDAQ:MTCH traded down $1.21 during mid-day trading on Friday, hitting $30.63. The stock had a trading volume of 3,651,047 shares, compared to its average volume of 4,864,381. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The company has a market cap of $7.67 billion, a PE ratio of 15.16, a P/E/G ratio of 0.82 and a beta of 1.45. The company's 50 day moving average is $32.90 and its 200-day moving average is $33.83.

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 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, equities research analysts predict that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio is currently 37.62%.

Match Group announced that its board has authorized a stock buyback program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 19% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the transaction, the president now owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by insiders.

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.