Match Group, Inc. (NASDAQ:MTCH) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its position in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 577,211 shares of the technology company's stock after acquiring an additional 74,132 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.23% of Match Group worth $18,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC raised its stake 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 worth $189,000 after purchasing an additional 657 shares during the last quarter. Sound Shore Management Inc. CT acquired a new position in Match Group in the 4th quarter worth approximately $39,962,000. KLP Kapitalforvaltning AS purchased a new position in Match Group during the 4th quarter worth approximately $2,515,000. Hillsdale Investment Management Inc. lifted its stake in Match Group by 4.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 21,650 shares of the technology company's stock valued at $708,000 after acquiring an additional 900 shares during the period. Finally, TD Private Client Wealth LLC boosted 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 acquiring an additional 657 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

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Match Group Stock Up 0.7 %

Shares of Match Group stock traded up $0.21 during mid-day trading on Tuesday, reaching $31.41. 4,490,178 shares of the stock traded hands, compared to its average volume of 4,887,954. The business has a 50-day moving average of $32.80 and a 200 day moving average of $33.72. The stock has a market capitalization of $7.87 billion, a PE ratio of 15.55, a PEG ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last announced 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%. On average, equities research analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be given 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 yield of 2.42%. Match Group's payout ratio is presently 37.62%.

Match Group declared that its Board of Directors has approved a share buyback 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 reacquire up to 19% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTCH. BTIG Research downgraded shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their price objective on Match Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Piper Sandler reaffirmed an "overweight" rating and set a $40.00 target price on shares of Match Group in a report on Thursday, December 12th. Stifel Nicolaus reduced their price target on Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on Match Group from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, December 12th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $37.68.

Insider Activity at Match Group

In other news, President Gary Swidler sold 242,209 shares of the business's stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

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.