Match Group, Inc. (NASDAQ:MTCH) Shares Bought by DnB Asset Management AS

DnB Asset Management AS boosted its holdings in shares of Match Group, Inc. (NASDAQ:MTCH - Free Report) by 4,659.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,915,093 shares of the technology company's stock after purchasing an additional 1,874,853 shares during the quarter. DnB Asset Management AS owned about 0.76% of Match Group worth $62,643,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its position in shares of Match Group by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 74,762 shares of the technology company's stock valued at $2,445,000 after buying an additional 478 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Match Group during the 4th quarter valued at about $4,784,000. Norges Bank purchased a new stake in Match Group in the fourth quarter worth $112,176,000. NEOS Investment Management LLC lifted its position in shares of Match Group by 31.1% during the fourth quarter. NEOS Investment Management LLC now owns 15,743 shares of the technology company's stock worth $515,000 after purchasing an additional 3,732 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Match Group by 27.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 57,216 shares of the technology company's stock valued at $1,872,000 after purchasing an additional 12,304 shares during the period. Institutional investors own 94.05% of the company's stock.

Match Group Price Performance

MTCH traded up $0.27 on Tuesday, reaching $31.47. 1,552,420 shares of the company's stock were exchanged, compared to its average volume of 4,871,938. The stock has a market cap of $7.88 billion, a PE ratio of 15.56, a P/E/G ratio of 0.82 and a beta of 1.45. Match Group, Inc. has a twelve month low of $27.66 and a twelve month high of $38.84. The stock's fifty day moving average price is $32.82 and its 200-day moving average price is $33.74.

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Match Group (NASDAQ:MTCH - Get Free Report) last posted its quarterly earnings results 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 net margin of 15.84% and a negative return on equity of 574.22%. As a group, research analysts predict that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, April 3rd. Match Group's payout ratio is presently 37.62%.

Insider Activity at Match Group

In related news, President Gary Swidler sold 242,209 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MTCH shares. HSBC lowered shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Morgan Stanley raised their price objective on Match Group from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, December 12th. Bank of America upped their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $33.00 price target (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $37.68.

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.