Legato Capital Management LLC Takes Position in Match Group, Inc. (NASDAQ:MTCH)

Legato Capital Management LLC bought a new position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 63,280 shares of the technology company's stock, valued at approximately $2,070,000.

Other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock worth $27,000 after buying an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Match Group during the third quarter worth $31,000. Northwest & Ethical Investments L.P. acquired a new position in Match Group during the third quarter worth $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock worth $70,000 after buying an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC acquired a new position in Match Group during the third quarter worth $87,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.77% of the company's stock.

Match Group Stock Up 2.0 %

MTCH traded up $0.68 during midday trading on Friday, reaching $34.69. 4,673,098 shares of the company's stock were exchanged, compared to its average volume of 4,414,033. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. Match Group, Inc. has a one year low of $27.66 and a one year high of $38.84. The business has a 50-day simple moving average of $33.13 and a two-hundred day simple moving average of $34.68.

Match Group (NASDAQ:MTCH - Get Free Report) last announced 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 negative return on equity of 574.22% and a net margin of 15.84%. As a group, research analysts anticipate that Match Group, Inc. will post 2.49 EPS for the current fiscal year.

Match Group declared that its board has initiated a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Match Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio is 37.62%.

Analysts Set New Price Targets

Several research firms have commented on MTCH. Loop Capital lowered their target price on shares of Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded Match Group from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Stifel Nicolaus lowered 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. KeyCorp lowered their price target on Match Group from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Finally, 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. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $37.68.

Match Group Company Profile

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.