Jupiter Asset Management Ltd. Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Jupiter Asset Management Ltd. purchased a new stake in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,399,193 shares of the technology company's stock, valued at approximately $45,768,000. Jupiter Asset Management Ltd. owned approximately 0.56% of Match Group at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MTCH. Venturi Wealth Management LLC lifted its position in shares of Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Match Group during the third quarter valued at about $31,000. Northwest & Ethical Investments L.P. bought a new position in shares of Match Group during the third quarter valued at about $57,000. Assetmark Inc. lifted its position in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares in the last quarter. Finally, Principal Securities Inc. lifted its position 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 valued at $107,000 after purchasing an additional 2,652 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

Shares of MTCH opened at $31.36 on Wednesday. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84. The firm has a 50 day moving average price of $33.14 and a 200-day moving average price of $34.27.

Remove Ads

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. As a group, equities research analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current year.

Match Group declared that its Board of Directors has approved 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 a sign that the company's management believes its shares are undervalued.

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. 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 2.42%. Match Group's dividend payout ratio is currently 37.62%.

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction 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 directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays lowered their price objective on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $35.00 price objective on shares of Match Group in a research report on Monday, December 9th. Evercore ISI lowered shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price objective on the stock. in a research report on Thursday, February 6th. New Street Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a research note on Monday, December 16th. Finally, Hsbc Global Res downgraded shares of Match Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $37.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.