Janney Montgomery Scott LLC Acquires 11,688 Shares of Match Group, Inc. (NASDAQ:MTCH)

Janney Montgomery Scott LLC lifted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,385 shares of the technology company's stock after acquiring an additional 11,688 shares during the quarter. Janney Montgomery Scott LLC's holdings in Match Group were worth $1,681,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Match Group by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 224,933 shares of the technology company's stock worth $6,833,000 after buying an additional 2,602 shares during the last quarter. Quarry LP grew its position in shares of Match Group by 54.5% during the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company's stock valued at $40,000 after acquiring an additional 461 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Match Group during the 2nd quarter worth approximately $731,000. Czech National Bank raised its holdings in shares of Match Group by 3.8% in the 3rd quarter. Czech National Bank now owns 52,535 shares of the technology company's stock worth $1,988,000 after purchasing an additional 1,909 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in shares of Match Group by 19.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 63,100 shares of the technology company's stock worth $2,388,000 after purchasing an additional 10,100 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Susquehanna dropped their price target on Match Group from $45.00 to $40.00 and set a "positive" rating on the stock in a research report on Friday, November 8th. Morgan Stanley upped their price objective on shares of Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. UBS Group cut their target price on shares of Match Group from $38.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Evercore ISI lowered their price target on shares of Match Group from $37.00 to $35.00 and set an "outperform" rating on the stock in a research report on Friday, December 13th. Finally, 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 report on Wednesday, December 18th. Fourteen equities research 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 stock. According to MarketBeat, Match Group currently has an average rating of "Moderate Buy" and a consensus target price of $37.72.

Match Group Stock Performance

NASDAQ MTCH opened at $35.70 on Monday. The company has a market capitalization of $8.96 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.08 and a beta of 1.45. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $39.91. The company has a fifty day moving average of $32.80 and a 200-day moving average of $34.66.

Match Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $0.76 annualized dividend and a dividend yield of 2.13%. Match Group's dividend payout ratio (DPR) is presently 33.93%.

Match Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at Match Group

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

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