KLP Kapitalforvaltning AS Invests $2.52 Million in Match Group, Inc. (NASDAQ:MTCH)

KLP Kapitalforvaltning AS acquired a new stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 76,903 shares of the technology company's stock, valued at approximately $2,515,000.

Other large investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its stake in shares of Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock worth $358,000 after buying an additional 318 shares during the period. Cornerstone Investment Partners LLC increased its position in shares of Match Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock valued at $520,000 after purchasing an additional 349 shares during the last quarter. Assetmark Inc. increased its position in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Match Group by 10.1% in the 4th quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company's stock valued at $235,000 after purchasing an additional 657 shares in the last quarter. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Match Group by 17.2% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company's stock worth $194,000 after purchasing an additional 753 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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Match Group Price Performance

Shares of MTCH stock traded down $1.21 during midday trading on Friday, hitting $30.63. The company had a trading volume of 3,651,047 shares, compared to its average volume of 4,861,089. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The company's 50 day simple moving average is $32.86 and its 200 day simple moving average is $33.77. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.82 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. Analysts anticipate that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 19% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board 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. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.48%. Match Group's dividend payout ratio (DPR) is 37.62%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a "neutral" rating and set a $33.00 target price (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. HSBC downgraded Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Loop Capital cut their price objective on shares of Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Finally, Piper Sandler restated an "overweight" rating and issued a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Match Group has an average 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.