iA Global Asset Management Inc. Acquires 11,222 Shares of Match Group, Inc. (NASDAQ:MTCH)

iA Global Asset Management Inc. raised its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 32.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,687 shares of the technology company's stock after acquiring an additional 11,222 shares during the quarter. iA Global Asset Management Inc.'s holdings in Match Group were worth $1,494,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the third quarter worth approximately $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group in the 3rd quarter valued at $57,000. Quarry LP increased its position in Match Group by 126.3% during the 3rd quarter. Quarry LP now owns 2,958 shares of the technology company's stock worth $112,000 after buying an additional 1,651 shares during the period. Assetmark Inc. increased its position 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 buying an additional 378 shares during the period. Finally, Principal Securities Inc. lifted its holdings in shares of Match Group by 420.3% during the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock worth $107,000 after buying an additional 2,652 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Match Group news, President Gary Swidler sold 242,209 shares of the 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by corporate insiders.

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Match Group Stock Down 1.2 %

Shares of MTCH stock traded down $0.39 during mid-day trading on Tuesday, reaching $31.27. 2,509,143 shares of the stock traded hands, compared to its average volume of 4,678,078. The stock's fifty day simple moving average is $32.92 and its two-hundred day simple moving average is $33.86. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted 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 anticipate that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group announced that its board has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.43%. Match Group's payout ratio is 37.62%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MTCH shares. New Street Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Bank of America boosted their price target on Match Group from $35.00 to $36.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Evercore ISI lowered Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price objective on the stock. in a research note on Thursday, February 6th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $32.00 price objective (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Finally, BTIG Research lowered Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Sixteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $37.68.

Match Group Company 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.