Match Group, Inc. (NASDAQ:MTCH) Shares Sold by Tredje AP fonden

Tredje AP fonden trimmed its position in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,680 shares of the technology company's stock after selling 21,680 shares during the quarter. Tredje AP fonden's holdings in Match Group were worth $709,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC grew its position in Match Group by 617.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after acquiring an additional 605 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Match Group in the third quarter worth about $31,000. Northwest & Ethical Investments L.P. purchased a new position in Match Group in the 3rd quarter worth about $57,000. Assetmark Inc. lifted its holdings in Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after buying an additional 378 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock valued at $107,000 after buying an additional 2,652 shares during the period. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling at Match Group

In related news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction on Friday, March 7th. The shares were 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 approximately $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

A number of research firms have commented on MTCH. Stifel Nicolaus cut their target price on shares of Match Group from $36.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, December 12th. Piper Sandler reaffirmed an "overweight" rating and set a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Evercore ISI lowered Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a research report on Thursday, February 6th. Finally, Morgan Stanley raised their price objective on Match Group from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Match Group presently has an average rating of "Hold" and an average price target of $37.68.

Match Group Stock Performance

NASDAQ MTCH traded up $0.45 during trading hours on Wednesday, reaching $31.44. The stock had a trading volume of 3,141,621 shares, compared to its average volume of 4,682,006. Match Group, Inc. has a 52-week low of $27.66 and a 52-week high of $38.84. The stock has a market cap of $7.87 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The stock has a fifty day moving average of $32.95 and a 200 day moving average of $34.05.

Match Group (NASDAQ:MTCH - Get Free Report) last released 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 negative return on equity of 574.22% and a net margin of 15.84%. On average, equities research analysts forecast that Match Group, Inc. will post 2.44 EPS for the current year.

Match Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.42%. 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.