UniSuper Management Pty Ltd Grows Position in Match Group, Inc. (NASDAQ:MTCH)

UniSuper Management Pty Ltd raised its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 27.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 57,216 shares of the technology company's stock after purchasing an additional 12,304 shares during the period. UniSuper Management Pty Ltd's holdings in Match Group were worth $1,872,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTCH. Metis Global Partners LLC raised its stake in Match Group by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company's stock worth $358,000 after buying an additional 318 shares in the last quarter. Cornerstone Investment Partners LLC raised its holdings in Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company's stock worth $520,000 after purchasing an additional 349 shares in the last quarter. Assetmark Inc. lifted its position in shares of Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after buying an additional 378 shares during the last quarter. 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 buying an additional 657 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in shares of Match Group by 12.8% in the 4th quarter. Prestige Wealth Management Group LLC now owns 5,785 shares of the technology company's stock worth $189,000 after buying an additional 657 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

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Analysts Set New Price Targets

MTCH has been the subject of several recent analyst reports. Stifel Nicolaus lowered their target price on shares of Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 6th. Piper Sandler reiterated an "overweight" rating and issued a $40.00 price target on shares of Match Group in a research note on Thursday, December 12th. New Street Research lowered Match Group from a "buy" rating to a "neutral" rating in a research note on Monday, December 16th. HSBC downgraded shares of Match Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Evercore ISI downgraded shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price objective for the company. in a research note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $37.68.

Match Group Price Performance

MTCH stock traded down $0.22 during mid-day trading on Thursday, reaching $31.06. 3,594,512 shares of the company's stock were exchanged, compared to its average volume of 4,886,673. Match Group, Inc. has a 12-month low of $27.66 and a 12-month high of $38.84. The stock's 50 day moving average is $32.78 and its 200 day moving average is $33.70. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate 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, research analysts forecast that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is presently 37.62%.

Match Group announced that its Board of Directors has initiated a share buyback program on Wednesday, December 11th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the technology company to reacquire up to 19% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Match Group

In related news, President Gary Swidler sold 242,209 shares of the firm's stock in a transaction dated 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 completion of the sale, the president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.77% of the company's stock.

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.