Korea Investment CORP Buys 102,000 Shares of Match Group, Inc. (NASDAQ:MTCH)

Korea Investment CORP increased its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 37.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 376,965 shares of the technology company's stock after acquiring an additional 102,000 shares during the quarter. Korea Investment CORP owned about 0.15% of Match Group worth $12,331,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MTCH. Metis Global Partners LLC grew its position in shares of Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock valued at $358,000 after purchasing an additional 318 shares during the last quarter. Cornerstone Investment Partners LLC grew its holdings in 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 buying an additional 349 shares in the last quarter. 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. TD Private Client Wealth LLC lifted its holdings in shares of Match Group by 10.1% during the fourth quarter. TD Private Client Wealth LLC now owns 7,172 shares of the technology company's stock worth $235,000 after buying an additional 657 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Match Group by 12.8% in the fourth quarter. Prestige Wealth Management Group LLC now owns 5,785 shares of the technology company's stock valued at $189,000 after acquiring an additional 657 shares during the period. Institutional investors own 94.05% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several brokerages have weighed in on MTCH. New Street Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a report on Monday, December 16th. Evercore ISI downgraded Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a research report on Thursday, February 6th. Truist Financial lowered their price objective on Match Group from $35.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, December 12th. Piper Sandler reiterated an "overweight" rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Finally, Stifel Nicolaus decreased their price target on Match Group from $36.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.68.

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.77% of the stock is currently owned by company insiders.

Match Group Trading Up 0.2 %

MTCH traded up $0.06 during trading on Wednesday, reaching $31.47. 3,823,287 shares of the company's stock were exchanged, compared to its average volume of 4,883,727. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The firm has a fifty day moving average price of $32.80 and a two-hundred day moving average price of $33.72. The stock has a market capitalization of $7.88 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

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

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 paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio is currently 37.62%.

Match Group declared that its board has initiated a share repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to repurchase 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.

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.