Manning & Napier Advisors LLC Invests $4.09 Million in Match Group, Inc. (NASDAQ:MTCH)

Manning & Napier Advisors LLC bought a new position in Match Group, Inc. (NASDAQ:MTCH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 125,045 shares of the technology company's stock, valued at approximately $4,090,000.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB boosted its holdings in Match Group by 5.0% during the 4th quarter. Swedbank AB now owns 652,008 shares of the technology company's stock worth $21,327,000 after acquiring an additional 31,108 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Match Group by 330.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 328,281 shares of the technology company's stock valued at $10,738,000 after purchasing an additional 252,078 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Match Group by 17.0% during the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock worth $211,818,000 after purchasing an additional 939,078 shares during the last quarter. Hunter Perkins Capital Management LLC bought a new stake in Match Group in the 4th quarter worth about $708,000. Finally, KBC Group NV increased its stake in Match Group by 3,325.7% in the 4th quarter. KBC Group NV now owns 1,122,906 shares of the technology company's stock valued at $36,730,000 after buying an additional 1,090,127 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

MTCH has been the topic of a number of research analyst reports. Loop Capital cut their target price on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, December 12th. Susquehanna reduced their price objective 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. Stifel Nicolaus lowered their target price on Match Group from $39.00 to $36.00 and set a "hold" rating on the stock in a research note on Thursday, December 12th. New Street Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $40.00 price objective on shares of Match Group in a research report on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Match Group has an average rating of "Moderate Buy" and an average target price of $37.72.

Match Group Stock Performance

NASDAQ:MTCH traded up $0.13 during mid-day trading on Thursday, reaching $35.31. The stock had a trading volume of 1,183,257 shares, compared to its average volume of 3,561,562. Match Group, Inc. has a one year low of $27.66 and a one year high of $39.91. The firm has a 50 day moving average price of $32.64 and a two-hundred day moving average price of $34.63. The stock has a market capitalization of $8.87 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.00 and a beta of 1.45.

Match Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th were paid a $0.19 dividend. The ex-dividend date was Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.15%. Match Group's dividend payout ratio (DPR) is 33.93%.

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 outstanding shares. This repurchase authorization permits the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction 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 transaction, the director now directly owns 12,398 shares of the company's stock, valued at $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is owned by insiders.

Match Group 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.