Integrated Investment Consultants LLC Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Integrated Investment Consultants LLC bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,966 shares of the technology company's stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTCH. State Street Corp increased its stake in shares of Match Group by 2.3% during the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company's stock valued at $668,732,000 after acquiring an additional 391,977 shares during the last quarter. Starboard Value LP purchased a new stake in Match Group in the third quarter valued at approximately $361,605,000. Pacer Advisors Inc. increased its position in Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company's stock worth $190,279,000 after purchasing an additional 2,940,667 shares during the last quarter. FMR LLC raised its stake in Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company's stock worth $209,668,000 after purchasing an additional 524,144 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Match Group by 56.8% in the 4th quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company's stock valued at $78,733,000 after purchasing an additional 866,026 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial dropped their price objective on Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, December 12th. Barclays dropped their price target on Match Group from $55.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price target on shares of Match Group in a report on Monday, December 9th. Finally, Morgan Stanley boosted their price objective on shares of Match Group from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Fourteen investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.72.

Match Group Stock Performance

Shares of MTCH stock traded up $0.02 during trading hours on Friday, hitting $32.74. 4,687,219 shares of the company were exchanged, compared to its average volume of 3,637,489. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.10 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $39.91. The business's 50-day simple moving average is $32.15 and its two-hundred day simple moving average is $34.44.

Match Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, January 6th. Match Group's dividend payout ratio is presently 33.93%.

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

Insider Transactions at Match Group

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