Corient Private Wealth LLC Has $571,000 Holdings in Match Group, Inc. (NASDAQ:MTCH)

Corient Private Wealth LLC trimmed its stake in Match Group, Inc. (NASDAQ:MTCH - Free Report) by 34.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,446 shares of the technology company's stock after selling 9,020 shares during the period. Corient Private Wealth LLC's holdings in Match Group were worth $571,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company's stock worth $668,732,000 after purchasing an additional 391,977 shares during the last quarter. Starboard Value LP acquired a new position in Match Group in the third quarter valued at about $361,605,000. Pacer Advisors Inc. boosted its position in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company's stock valued at $211,818,000 after buying an additional 939,078 shares in the last quarter. FMR LLC grew its stake in Match Group by 10.4% during the third quarter. FMR LLC now owns 5,540,916 shares of the technology company's stock worth $209,668,000 after buying an additional 524,144 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Match Group by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,667,907 shares of the technology company's stock worth $87,267,000 after buying an additional 69,947 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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Match Group Price Performance

MTCH traded up $0.06 during mid-day trading on Wednesday, hitting $31.47. The stock had a trading volume of 3,823,291 shares, compared to its average volume of 4,890,588. The stock's fifty day simple moving average is $32.78 and its 200-day simple moving average is $33.70. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. Match Group, Inc. has a 1-year low of $27.66 and a 1-year high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. As a group, research analysts expect that Match Group, Inc. will post 2.44 earnings per share for the current fiscal year.

Match Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Thursday, April 3rd will be paid 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 2.41%. Match Group's payout ratio is 37.62%.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MTCH shares. Evercore ISI lowered Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target on the stock. in a research report on Thursday, February 6th. New Street Research lowered Match Group from a "buy" rating to a "neutral" rating in a research note on Monday, December 16th. Piper Sandler reiterated an "overweight" rating and set a $40.00 price target on shares of Match Group in a research report on Thursday, December 12th. Bank of America increased their price objective on shares of Match Group from $35.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Finally, Truist Financial dropped their target price on shares of Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, December 12th. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Match Group has a consensus rating of "Hold" and a consensus price target of $37.68.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction on 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 completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at approximately $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.