Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,231 shares of the technology company's stock after selling 9,509 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.09% of Match Group worth $7,564,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Match Group by 2.3% during the third 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 in the last quarter. Starboard Value LP acquired a new stake in shares of Match Group during the third quarter valued at about $361,605,000. Pacer Advisors Inc. grew its stake in shares of Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after acquiring an additional 939,078 shares in the last quarter. FMR LLC grew its stake in shares of Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company's stock valued at $209,668,000 after acquiring an additional 524,144 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Match Group by 56.8% during the fourth quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company's stock valued at $78,733,000 after acquiring an additional 866,026 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $33.00 target price (down from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. UBS Group decreased their price target on Match Group from $38.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. Loop Capital decreased their price target on Match Group from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, December 12th. Susquehanna decreased their price target on Match Group from $45.00 to $40.00 and set a "positive" rating for the company in a research note on Friday, November 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 price target (down from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Match Group currently has an average rating of "Hold" and a consensus target price of $37.68.

Match Group Stock Performance

Shares of MTCH traded down $1.10 during mid-day trading on Friday, reaching $32.77. 3,272,464 shares of the company's stock traded hands, compared to its average volume of 4,491,525. The business's 50-day moving average price is $33.32 and its 200-day moving average price is $34.62. The stock has a market capitalization of $8.23 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. Match Group, Inc. has a 12 month low of $27.66 and a 12 month high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last released its quarterly earnings results 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%. Equities research 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 buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 19% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Match Group Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.32%. Match Group's payout ratio is 37.62%.

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.